Older engine - painting?

[Skyedriver]

Looking to tidy up the Ford Crossflow in my Caterham but the engine, Scholar built and painted dark red 25 years ago looks pretty untidy with much of the paint particularly around the head burnt off and the steel heavily rusted, inc head bolts etc.
Am I wasting my time and money trying to repaint it?

[227bhp]

Yes.

[paintman]

Your money & time so it's up to you. If it particularly bothers you then do it. If not leave it alone.

[Aeroscreens]

I painted the engine x/flow block in my '93 7 when I rebuilt it in 2007/08. As the engine was out of the car and stripped of all its ancilliaries then it was a simple job to degrease and paint, something to do whilst the chassis was at Arch. Doubt if I'd bother taking it out just to paint though....