Those who appreciate survivor motors frown
on doing anything that would undo what took
years to achieve. However it is your motor. If
I was to do anything to it, it would be to use a
light oil or a silicone spray like WD-40 to bring
it back some as well a providing some protection.
As long as its not flaking off anywhere wiping
some oil on it shouldn’t bother it any.
Tubs
A "Boathouse Repair" is one thats done without having tools or the skills to do it properly.