advice for rustry raleigh professional
Newb here, I've been enjoying reading all your great posts over the las week or so. My bridgestone 700 SS conv got nabbed two weeks ago (if you happen to see one ~62cm), so I went shopping and ended up with a Raleigh Professional, probably '74-76 SN A9323 silver and black with a box of assorted parts. My plan is to build it into a SS, but I'm trying to figure out what to do with the paint.
There are many, many small scratches showing rust, a medium bubbly rust spot under the carlton sticker, and two decent patches of surface rust where the rear brake cable was rubbing the top tube. The chrome on the stays is in good shape. The fork had the paint stripped, so is all chrome, though the chrome is seriously flaking on the backside of the fork and rusting where it chipped off.
My main goal is to have a sweet daily rider with some vintage flair without risking losing a pretty nice piece of steel to the elements. I'm considering a couple of options and would appreciate any feedback. I've tried to read up as much as I can, but thought putting the question to a specific frame might yield some insights.
1. Wash and wax it and cross my fingers that the rust doesn't progress.
2. Pay for a good single color powder coat, leaving the fork as it ~$150 (will you still be able to see the lugwork?)
3. Repaint myself using professional products and unprofessional technique, probably trying to match the colors, but not the decals. $150 in materials plus a lot of time.
4. Have it professionally painted one color. ~$250
Since I don't have a lot of original components, and I'm not trying to restore to original, I'm not really considering the $$$ paint job that I know would be sweet, but just isn't in the scope of this project.
Thanks for your input!