Neecie, I agree with what is being said here too about restoring your machine. I have restored several and some did have some paint on them that was far from mint but I left the paint on them alone. Recently I bought a Treadle base and basically it came with a free machine. The cabinet was great but the machine was a mess. The paint had chipped off the machine so much that someone spray painted much of the machine to cover the bare metal. I decided to repaint it for that reason. The only advice I could add is you need to do your homework. Very few decal sets are out there for Sewing Machines. I know that there are "Red Eye" decals but they run about $80 for a set. That is just the decals. The rest of the project can get pricey fast.
Good Luck, and post some pictures!
~G~