Respray or touch up?

From the photo provided, that rust isn't remotely serious and won't compromise the integrity of the frame.

Your bike, your choice; but it strikes me that you're throwing the baby out with the bath water: "it's only original once".

Small spots like that can easily be treated at home: rub back, touch-up, done. But for reassurance, you might want to rub back the entire area.
 
Re:

Thanks Scilly,
I haven't had luck finding somewhere to get a respray yet, it's cleaned up well and some of the spots have rubbed off a bit, so thinking I will build it up, refresh some of the decals and see how it looks maybe respray some stage next year if still think it needs it.

I do intend to ride it so won't be going for NOS sort of finish and think i'll be more likely to ride it with current paint that trying not to chip or scuff a new paint job
 
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