I split the difference, along the lines of this discussion:
1. Capo Modell Campagnolo, bought with dull red, possibly non-original, finish, no decals --
CyclArt Cat II paint in a stock metallic red which is almost a candy apple maroon, white head tube and detail panels, simple lettered downtube decals -- looks fabulous, but not worth quite as much as the paint job cost
2. Capo Sieger, bought w/ original finish in somewhat rough condition --
Preserving everything except the head tube paint, which was an enamel which has mostly flaked off -- planning to repaint just that. This top-of-the-line frame is a true collectible, unlike the (somewhat) more common Modell Campagnolo.
Opposite decisions, guided largely -- as suggested above -- by the condition of the paint when I received each bike, as well as by the frame's inherent value.
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"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069