Okay, had a bit of a go at getting the paint off. Must've been there a looooong time, as it's flaking away at the edges. I gently went round it with a pallet knife, and a whole heap came off with barely any effort. Underneath is a beautiful blue marine pearl! It kills me when, I'm guessing, some guy in a thrash band spray paints a perfectly good vintage kit to make it look "cooler" or "harder" or something. Madness. Utter madness. The guy was probably broke and a tin of spray paint is a lot cheaper than buying new wrap, so I can sorta see his reasoning. I don't agree with it however!
Anyway, here's a pic of my work in progress...