If you had one with smashed-up end boards that needed replacing, and serious rust spots on the chassis and transformer cover so they would need to be stripped first, etc... then I would say "Sure, as long as you are replacing so much, might as well 'pimp' it!" :yes: But if you have a decent stock one to begin with, then I'd prefer a restoration.
I feel the same way about old cars. Spruce up that incomplete, badly rusted hulk if you want, but don't rat-rod an otherwise perfectly restorable classic! :nono: