I have a peer in our MTB community that converts, repaints and re-badges old MTB's with his neat looking single speed decal and sells them as he can to finance his own mountain bike needs but we all know him and the history of the bikes he does. And his cool badging... As has been well said; You are free to do what you want (obviously) but since you asked us: I would feel like a real tool if I rode around on a bike I tried to make look like a model it is not with paint and badging to replicate the other model. Lame! But that's me.