Re: What year is this old bike?
i agree with everyone else about not painting it. looking at it again, that paint looks really good, and usually, pictures make it look even worse, so i'm assuming it's better than it looks in the pics.
the best thing to do would be take it all apart, clean off all the old grease and dirt with WD40, and then wax it with regular car wax.
unless you're a pro, you'll never do a better job at painting it then the factory did, and it's gonna get scratched anyway.
in my opinion, if the paint's save-able, save it. if it's wasted, then do whatever you want to it.