it's the green...there seems to be a Japanese Bianchi hiding under there. I'd like to get the green off without doing damage to the decals.

Help!

gave you tried rubbing alcohol?

Actually, acetone would be better, but don't let it sit on the decals more than a few seconds.

I thought I'd be seeing something like mine, an old peeling spray-job.

Not implying anything, but it puts me in mind of the kind of hurry-up paint job performed on a stolen bike.

^^^^
could be...most i've seen are spray paint, not brushed/slopped on!

my friend has had the bike for 7+ years...just takin' up space...is was left in his storage locker at his last apartment...

I tried the acetone, but I do fear the decals coming off.

Yes, acetone will take most anything off! paint, decals, ...your skin

I would try masking the decals and sanding CAREFULLY around them with 1500 or 2000 grit sandpaper.
Then mask that masking tape and use 1000 grit to carefully remove the rest of the offending paint.
But be prepared to have the frame repainted!

Trying to remove just the top layer of paint aint gonna be EASY!