Leaving it blue is not only less work, but it is also the more authentic approach. Replacing a factory finish with a homespun solution is no different than replacing any other factory-original part with a reproduction. It is fine if a reproduction is the only feasible option, but if the original is in good condition, why mess with it?
Without considering resale value, which would you rather have, an HUO Donkey Kong in excellent or near-mint condition, or a brand new scratch-built Donkey Kong using new plywood and new reproduction parts?