Quoted from NM:OK here's what I ended up doing:
Decided to keep the weldment original/unpainted and go with a plastic shroud (found a donor black plastic parts bin at a local 99 Cent store). May yet paint the shroud semi-gloss.
Preferred the look of the rear arm flushing flat against the weldment instead of hanging off the rear; the trade-off for this look is a recessed cut in the gold support arm for the top screw.
Was planning on painting the spokes Red, still may--but it's grown on me a bit as-is...kind of a Bandit Special Edition T.A. look.
Nice work Neil.