Ron in Sterling, CT
Hi Tom,
I basically agree with David. Strip and refinish. It doesn't make the tool work any better, but they sure look nice. I have repainted quite a number of old Stanley/Bailey planes. I have not gotten into the Japanning. The ones I have repainted have been for my own use. I have used black lacquer as well as black auto engine paint. Both are easy to apply and look fine. The auto engine paint is more durable. My 2 cents.
Ron