I personally would like it better without the paint. Since the paint obviously isn't original to the piece (and since it appears on such a key area), it stands out like a sore thumb.
Others can chime in regarding the paint removal process... that's not my area of expertise. But as a collector of this type of thing, I definitely tend to opt for collectibles that appear more in their original state. I would bet that others agree... if there's a sure-fire way to remove the paint without compromising the carved/figural portion, I would do it. It's a high-end item, so your collector base will be more discriminating.
If you do decide to remove the paint, perhaps you can post a thread similar to your Stadium Seat progression. Either way, I hope this helps... it's a beautiful and important piece!
PS. REA's Fall event is looming, so maybe that's a better venue for this one. The B/S/T is great, but not always the best for mass exposure or high-end stuff
