Here is the argument against keeping these old bikes totally original. It's a Centurian Dave Scott Ironman Expert. This bike cries out for powder coating!
I am a big fan of 80's steel framed bikes but i don't think I could deal with this. If you are reading this and you're the owner of this bike I don't mean to insult you but it is really ugly.
Update: I just read this on Sheldon Brown's site:
Today, some view with shock and horror the pink/purple and pink/yellow two-tone color schemes of 1986-87 but these combinations were the rage at the time. There are often pristine examples of Centurion models with these color schemes (mostly the Ironman Master and Ironman Expert models) appearing on eBay and they often fetch less than similar models with more subdued colors.
Back in the day, these pink and pastel color schemes were attributed to the pervasive image of the TV show "Miami Vice." -- Sheldon Brown