I got the same thoughts, my undercoating looks fine, floor looks great if I remove some (this is from installing my subframe connectors). I like the nice clean look of just paint under the car and in the wheel wells, on the other hand, the undercoating seems to protect it great, dont know if this is factory stuff or done later, if its factory, its pretty amazing for a 44 year old car! Either I strip the car and pain it, or I clean it and find a paint that will work on top of the undercoating. Not sure what I'm gonna do yet.