In another thread, a respondent was writing about how the mini bike hobby allows for full on restos, getting close restos, and build what you want...I agree on the ridiculous Rat Rod patina thing...every bike I've resurrected has been a mess from the get-go with the Lil indian probably being the worst one to date. If it is a real survivor that wasn't molested, then yes, I'd clean it and bring it back to life.
What I try to do is keep the bones of the bike as stock as I can so it can be returned to original. I like trying different things and seeing what works and what doesn't--Gilson Copperhead is my test bed for different stuff--TAV brackets, brakes, etc. Now that I've perfected the band brake assembly with Copperhead (it locks the tire up), I can return my first Gilson, Wilderness, to completely stock (save the ugly fenders).