Do the downtube decals look like this one?


Paramounts only came with these decals for about 18 or so months in '83-'84 and only about 350 framesets were ever decaled in this style. If it is, it could well be worth the money to restore. You could have it done by Richard Schwinn at Waterford, or any reputable frame builder. There might be a way to do so and then creatively repaint just the repaired area.

Can you post some pictures? Specifically of the crack, decals, serial number, etc.