Looking at buying a 1975 Takara (mixte frame, almost all original components) that runs well but needs a little TLC (tires, bearings and the like). It shows its age in the form of various scratches and chips in the paint, so I thought about redoing the paint. I'm not all that familiar with this kind of stuff and wondered how one would go about repainting a bike like this (very simple step-by-step instructions?) or how much would it cost to have something like this done?
user randyjawa has a very nice website called mytenspeeds that gives some fairly good instructions on stripping the paint from a frame. He then details handpainting one, but threads on here offer a nice guide to spray bombing, etc. Dr. Deltron started a thread to help people with spray bombing.
Note that the money you put into painting such a bike will likely never be recovered if you intend to sell. If it's a rider, do what you want.