Paragon owner here from the UK! Had mine since Good Friday 2013. It was my first pin and a total junker. Bought condition unknown - just collect and pay. But what a bargain it's turned out to be! First off, Paragon is simply the most beautiful pinball machine ever made! After a few weeks rebuilding the power supply and resurrecting the dead MPU I got a working, playable machine. Lots of little niggles, like stuck switches and dead lamps, but it actually worked and played. Happy days.
I've started a major restoration project which I'm documenting in my shop log here on Pinside: http://pinside.com/pinball/forum/topic/adventures-in-budget-restoration-1978-bally-paragon
I'm still undecided as to what sort of restoration to do? Either way it'll play perfectly and all the mechanics and electrics will be fully serviced and replaced accordingly, i.e., the stuff you can't see inside the machine will be made to work like new so it plays beautifully. But not sure how I want to handle the aesthetics? Do I keep it in original yet very faded condition or go the "whole hog" and do full playfield restoration, clearcoat, cabinet respray, stencils, etc.? At the present I'm erring towards keeping it original as I would hate to make a bad job of the restoration. Faded original much, much better than a botched respray!
The answer to that is obviously a matter of personal taste. As @vid1900 keeps repeating hardcore Mustang collectors would prefer rust on original paint over a respray, but other enthusiasts want a fully-pimped custom 'rod that's a world away from the original car.
Over 600 photos on my Flickr: https://www.flickr.com/photos/peterduerden/sets/72157633156984778/
Here's a video of the first time I switched it on after fixing the PSU and MPU: https://flic.kr/p/eyKR9m and a picture of the day I brought her home. I didn't even any leg bolts!