[MENTION=372820]Alleytom[/MENTION], as you said, unusual, but seen on occasion. I'm guessing, and maybe Waterford can answer this, but there was a refinishing option or under warranty frame repair on Paramounts that were sent to the Waterford PDG in the 1980s, and basically the only option was to have it painted and decaled in the 1980s Paramount offerings. I've seen several 1970s Paramounts finished in the same manner as yours.

As you mention, paint and decals have no impact on a Paramount's ride quality!