I don't think anyone really has any objection to you wrapping it at all, Schwinn written on it or not. I mean, there are 147,000,000... Schwinn Le Tours out there, and they're not exactly Paramounts.

I think this wood grain idea sounds like it might turn out Really cool. What kind of wood grain are you thinking of going for? In my head at first I was kind of picturing a straight grain bamboo kind of look, but maybe you were thinking dark stained cherry/walnut or something? There are so many different kinds of wood grain! How would you do it, though? I'm curious of the process. Would you wrap each frame tube, carefully cut around the lugs, then do the lugs? Or does the vinyl have a way of conforming to the curvature of the lug so that you can do the lug and frame tube with one piece of vinyl?