IMO, its all on you. if YOU like that guitar, then yes, i would put pick ups in it, and make it your own. IF you are a talented painter, and have experance i would paint it. but dont put some hack job that you are going to be able to scrape off with your finger nail. make shure you sand it down good, and use a quality pait, but it sounds like you have experance painting. but, only you know if this guitar is worth doing all this to. if you plan on keeping this guitar for many years then i would do all this. but if your going to sell it in a year i wouldnt bother.