"Well, for instance, if the lettering in the name on the rib is rounded or the engraving on the breech is too soft."
An obvious case of the work being done improperly.
"And if the wood is below the metal that is a good indicator of refinish."
Not always true, wood can shrink with age. Many guns come with the wood very slightly proud, however,this is to allow for some shrinkage or a bit of refinishing if required. Refinished properly,unless the metal was already proud, it won't be when finished.
"But it requires interpretation "
Yes it does, and quite often the interpretation winds up being something along the lines of "It just looks too good for it's age"
Bottom line is that if I restore a gun, I use the proper methods. If that approach is taken, how do you really know? especially after a little bit of use? I never hide the fact, but if you can't tell, what's the issue?