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Paint a vintage bike or just ride it as is?

I recently scored a free 1974 Deelite Apollo 10 speed. As far as I can tell, it has all original parts, but most of the stickers have faded out and there are a few places where the paint has failed completely on the tubes.

As a project bike, would you consider stripping and painting the frame, or simply replace what needs done (tires, bar tape) and ride it as is?

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