Good point on the fabric paint over. lots of stuff hidden under some of them. However, don't overlook a fabric plane because the paint is faded or miss matched. Many have recent repairs and may be in good shape. Just fly it the way it is!! The top of my wings look kind of rough but they fly just fine. My IA says not to repaint now just wait until repair is needed. He also pointed out with my skills wing repair may be sooner than later.

I had a buddy get a great deal on a faded 182, spent two days cleaning and waxing the plane, It looked like a new paint job when he was done. Lots of metal planes go cheap because paint is falling off. As others have said they fly as good as the pretty ones and you won't feel so bad if you scrape the tail/belly on some brush.
DENNY