Do you think paint and tubes are part of the "body" or part of the "apparel" of a frameset? If the finish begins to rust from beneath, the rust and paint are part of the "apparel", and this needs to be corrected - for the sake and longevity of the frameset. Otherwise, i would say its child abuse.
A faithful restoration that replaces a bent tube probably rides more like the original than an un-repaired bike.
We are stewards for these bikes. When they leave our hands, the chance of their hitting the dumpster depends upon their condition. If nobody _ever_ repaints bicycles, the stock of classic bikes will diminish more quickly than need be. Who will be the owner 2, 3, or 4 owners down the line ?? That person may is not always a collector who enjoys "patina". It could even be a student.
- Don Gillies
San Diego, CA