Hi Mystyler, that machine is such a survivor I would stick to a patina restore. Clean it thoroughly and leave it's flaws. Many are doing this. Limit painting to clear coating parts that rust easily. Another poster did this with a well kept side pull FC steel deck Victa from the early 80s using car polish in parts and it looked sensational while keeping it's history intact. Why paint the blade carrier when it's only going to get ruined the minute you cut the lawn? I'd only do that if it was to be a display item only. Ages ago a guy fully restored an 80s SPFC Mustang only to spoil it after his first use.
Ahh, if only victa had kept producing the thumblatch catcher series, they would be in better shape today!