Exactly Muv--I don't want to ever misrepresent the machine, although if someone cared that much about it they would look up the serial and discover there's no way my machine could truly be one of the Indian machines. It would also be cheaper to just go with the paperclip design. Ah, the agonies of decision!
Okay, I think I'll go with the paperclip decals, if only because my father would kill me for the Indian decal (he restores Model A's, he's very touchy about that sort of thing). And I think I'll stick to black; if I ever find another machine in bad shape I might just give in and go for the hot rod red treatment.
Thank you both!