I’d strip and repaint, if it were mine. Cost is definitely a factor, but a nice frame like that is worthy, IMO, as long as you can find someone to do it for a reasonable cost.
FWIW I sent a CL sourced Marinoni frameset (in similar condition) to the Marinoni workshop, and they completely refinished it for about $400, including some extra brazing/mods.
So, it may be worth reaching out to Serotta to see if they can refurb it for reasonable money.