I agree with the guys that have posted already. I have only "restored" two engines where I stripped & repainted them but only because they where in such horrid shape when I got them (I figured I couldn't make it worse).
One came out pretty good but from what I learned on that one, the next
one paint came out better. So other than those two, my rule is try to do no harm and try to get the engines complete and operational. I am OCD on getting my engines complete with original parts or with near perfect reproduction parts.
Its a fine line and everyone's line is different. In the end, the item you are working on is yours and the decision is yours.