My beloved Peugeot that I bought in HS, and then stopped riding it when life got busy (job, house, marriage, kids, etc...) but always stored in dry sheltered conditions is starting to show it's age. I had leant it to my son for a few years which probably accelerated it's erosion but took it back about 2 years ago to do some restoration with the help of all your input.

New wheels, seat, brake pads, all the usual stuff and some touch up paint and it was looking real sweet but I'm noticing in some areas a bit of rust is coming through. Under the bottom bracket, along the joins, under the down tube, etc...The paint is also starting to lose it's luster and showing showing hair line cracks. Hey, we all start to go downhill at a certain age!

At what point do you abandon the touch ups and go full out re-furbish? The frame is not compromised in any way at this point but it's more the aesthetics of the frame that is of concern.