Yeah I think you're right, the lug stays
I'm having it professionally resprayed and new decals fitted. Not sure on colour, original pillar box red or something like cherry red, brg perhaps, lugs will be lined and dents in the top tube filled.
Components will be 60's ish running a 10 speed Campag gearset.
Not sure about the wheels (my other dilemma).
It currently has Airlite hubs (fixed/ geared) on Rigida chrome rims (32, 40) but I don't really want steel rims and those hubs would be great for my other Gillot. I have some Maillard large flange on Weinmann alloy rims which would go really well. If not I have a pair of large flange Milremo hubs (32, 40) also fixed/ geared which would match but again I need to source some suitable rims.
Reading that over I guess that the Maillard on Weinmanns maybe the best option but my concern is that they will be a blemish on an otherwise quality build. But they're quite nice and will polish up lovely so not much of a blemish I suppose.
My first decision is deciding the colour so I can order the decals and get it sent off....