I have the same dilemma with my 1941 Lithgow SMLE. The uber-poopy cheap glossy black paint was about 90% flaked off on mine, so I took the rest off, and it ended up just looking old and junky (but better than with the paint flecks still on). Then I took a damp cloth + large amounts of Bar Keeper's Friend (and a whole lotta scrubbin') and took off all the age tarnish/grime on the metal. Now the finish just look really bare/kinda old (but better than before).
I've read on GunBoards (posted by a very, very Enfield-savvy poster) that there are special considerations to take into account when parkerizing an Enfield. Anybody know of some specialists that can trustworthily re-park (and perhaps re-finish the wood on) an Enfield?
I'm not even entirely sure I want it re-finished. I mean, yeah, I would have a lot more love/pride for a good-lookin' rifle, but it DOES have some history...being made in Australia in 1941. IIRC, however, the original finish was parkerized in the first place and the paint was just added post-war in India. So, in theory, re-parking it could be considered historical restoration. In theory.