bikemig 

So I have an old Trek 720; I believe it is from 1983. The frame is very sound but the previous owner (namely my Dad, used a lock which chipped away all the paint. I used blue paint (ugly choice) to prevent any rusting and then rode the bike across the US. After finishing the trip, I converted it into a single speed. It was ugly enough that I wasn't too concerned with locking it up on the street. Now I want to turn it back into a touring bike. I have the parts for a build but i need to decide whether to powder paint it or not. I'm tempted to do so and buy some decals. This is a pretty tough group when it comes to repainting so I'll let the list help me out. Should I repaint the bike or not?

Chrome Molly

Find a close match paint and touch it up to see if you're happy enough with the results. If not, you're out maybe 8 bucks and an hour or two of your time...

bikemig 

I like the idea. Where is a good source for buying paint that comes close to matching the original? I guess an auto parts place is probably my best bet.

Chrome Molly

Go to a big hobby shop and bring the frame in with you. They have a myriad of paints in glass bottles, so you can see the actual paint. In an auto parts store there's usually just a sticker on the top that tells you very little. I drag frames into my favorite hobby shop frequently.

Shp4man

Dupli-color car paint at Pep Boys or Autozone. Do they have those in Middle Earth? It looks like a metallic charcoal kind of color, bring the frame, ask them if you can match it. I'd say one can of primer, two cans of base coat and one big can of clear coat. Follow the directions on the can. make sure the primer coat is even. You may be able to get decals to put on before you spray on the clear- restoration!

delicious

I wouldn't repaint. First I'd remove the blue touch-up paint. Second I'd determine if there's significant internal rust. If there is, I'd soak it in oxalic acid (search forums here). If not, I'd use Naval Jelly or similar for spot de-rusting. When rust is gone, I'd go over the whole frame with a mild rubbing compound like scratch-x. Then i'd touch the paint up. Finally, 2 coats of carnuba (not cleaning) wax.

busdriver1959

There is a difference between patina and beat up. Patina is long term wear and tear that tells a story of many wonderful miles spent on the bike. Beating the paint off with a lock is an embarassment that needs to be covered up with new paint and never spoken of again.

dddd

I'd follow delicious' advice and remove the blue paint, starting with lacquer thinner. It should dissolve with a less aggressive solvent than is required to dissolve the original paint.

Then try to touch up the excellent original Imron paint, filling in the paint voids, but not overlapping onto the original paint.