Well done for a great improvement of the damage done to a piece of history. I know people have no concept of what they are doing when they "tart up" something they have no business messing with but it still makes my p**s fizz when I see the results
Sympathetic restoration is the way to go in these cases. You might achieve further good results with fine wire wool and autosol on the steel. This will go a long way to replicating the original long time wear. Gently for a longer time rather than hard and fast (as it were!) is the key.
Here is a K98 bayonet that had been polished then left for a long time. It is a '38 (on the spine) E.u.F Horster and unusually the scabbard has no serial number so it can't be said to be "mis-matched". It was totally devoid of finish and had a lot of surface rust but no pitting. Sadly I never took "before" pictures so the ones below are "after".
I gently cleaned off the rust with rust remover, fine wire wool and autosol to provide a suitable surface. I used gun blue on the bayonet and for the scabbard I heated it with a blow torch (I didn't treat the bayonet like this for obvious reasons) and quenched it in dirty old engine oil. I think this gives a better "aged look" as opposed to bluing it. I replaced the grips which I took from a complete basket case blade then gave it a good soak in clean oil which was then cleaned off with WD40. I think it looks pretty good now.
For the leather on your scabbard I can suggest neats foot oil or if it is hardened you might find Fiebings 4 Way Leather Care is really good;
Fiebing's 4 Way Care Leather Conditioner 8fl oz / 236ml | eBay
Once again, well done and if you decide to do more please show the results.
PS It just occurred to me that the "Tar like paint" might be a bitumen preparation in which case white spirit will shift it albeit a bit smelly but you can deal with that later.