Wheel Well Coating, flaking off, want to show car....what to do? Options

[swm914]

My '74 has 52M original miles. I assume the undercoating which is also in the wheel wells is a rust proofing is some kind.(??)

The undercarriage coating is very intact in it's coverage, that is very little paint shows through, I suppose due to the lower miles (?). In the wheel wells however, it has about 50-60% coverage with the paint showing through in splotches. You can flake it off with your fingers it some spots and in others areas it still bonds very good.

Since I'm going to show it for the first time next month, I need advice and opinions as to what to do with the wheel wells. One guy told me he'd take it off. I think I've seen pictures of really original cars and seeing the paint in the wheel wells. Then another guy told me not to do that because the paint will be unprotected, subject to chips and then rust.

Before I talked to the 2nd guy I totally cleaned out one well thinking it was the CW thing to do. I thought at a show it would look better than the splotches and that show cars show the paint. Do they? Now I'm not sure what to do with the other three ( or how to redo the one I did for that matter). The 2nd guy told me to spray rubber coating on all four. How's that fly on a 914 show car?

I want to keep the car as original as possible but still drive it and have fun and go to an occasional show, again for fun, but given the condition overall of the car, with a decent attempt to win something or have it be recognized in some way.

What would you guys do? Feedback appreciated.