I wouldn't coat that. Paint looks good as is and covering it over would be a shame. Keep it. Spend a few quid on some upgrades that you like the look of.
That is well nice.
If you split I would love the Suntour stuff for my '91 Explosif. I'm not going to buy to split but if you do go that way make me an offer.
GLWS
Looking for a lightweight rigid fork. Suspension corrected - 410mm a to c or a little more.
1 and 1/8" steerer needs to be at least 200mm.
Thinking triple butted Kona P2, TB spinner, Ritchey, what have you?
P2s just look like they belong there. Flat bar and Velocity stem would look better, but if the modified cockpit means it get ridden more then it gets my vote.