Margaret,
I do not retouch the paint/chips. Trying to match and refinish paint on these old machines is not worth it IMHO. I consider their blemish's as a badge of honor-they earned them the hard way. My sister recently had a 221 that went through Katrina given to her. She had it professionally restored and that cost her $300. It looks brand new and that is what she wanted. It was fully functional before the redo.
T O Rodney