There are two schools of thought on this one. Personally I subscribe to the "if it ain't broke, don't fix it! school. If the paint is sound then prep it and paint over it. I see nothing to be gained by stripping back to bare metal. Obviousley if there are existing paint issues then it will need to be stripped.
Don't see too many Pale Primrose midgets about. I had a BGT in that colour back in the day.