I'm visiting from Home Improvement SE where you originated this question.
The commenters here are telling you that the pits don't matter. As a cast iron pan user myself, I agree with them, but your personal aesthetic demands a smooth bottom in the pan so that the spatula doesn't make an awful scraping noise.
OK, I get it.
Your sanding has been completely ineffective. I don't know if you've used sanding discs on a power tool or if you've been rubbing by hand, but if you're doing it by hand you have about another hundred hours to go.
The tool to use is a 4-1/2" angle grinder with sanding discs on a rubber sanding wheel.
Image: Creative Commons
This tool spins at thousands of RPM and will dig right in to the cast iron and create a deep divot if you're not careful. If you've never used one, you are advised to practice on some scrap steel and get a feel for the tool before unleashing it on the pan.
The process will shoot sparks, magnetic iron dust and abrasive particles in all directions, so it's best to do this outdoors after clamping the pan to a rigid surface. Even outdoors, it's best to wear close fitting goggles plus a full face shield, a particulate mask and hearing protection.
Start with 36 or 40 grit abrasive and work your way up the finer grit sizes once the entire surface takes on an even appearance. I should warn you that you will be removing a lot of iron to get to the bottom of those pits, but it's definitely doable. Most of your expendables will be for your coarsest grit.
I also have to warn you that as you remove material to make the pits disappear, there's a possibility that new pits will appear. This happens when the cast iron suffers from so-called porosity. Cast iron these days is almost never made from virgin ore; iron casting mills melt scrap metal like chopped up cars and trucks, salvaged ships and rail cars and recycled construction waste instead of using new pig iron from a blast furnace. Impurities abound, and these can create voids throughout the casting. Voids are particularly troublesome at the beginning of a production run when slag and dross pour out of the crucible along with the iron.
You can read a well-illustrated academic paper about voids in cast iron here.
You have hours of work ahead of you using the most effective power tool that a home workshop is likely to have. Would your time be better spent shopping for a new pan that's already smooth?