Hi Pete, if it was gloss then the paint has faded !! I'm in two minds whether to repaint at all and, if I do, should I keep it red or switch to black. When I bought the car (15 years ago or so) it was part through a full body off restoration and the engine paint looked fresh. I can't imagine the previous owner would have painted the engine red for the sake of it so, if that is the original colour then I'm tempted to keep it that way.