Well after a lot of thought and suggestions from everyone here, I've decided to go factory gray specifically with what Rick sells at resto rick.com. Like I said in the beginning I don't mind the extra work I just want to do what I feel is right for the car. I started wiping it down last night with some zxlene, xlene, zylene, whatever, removing the film of undercoating and it's going to clean up nice. No dents to speak of so shouldn't be all that bad to get ready to prime then paint. Not sure I will go as far as body color overspray underneath but we'll see.
I appreciate all the feedback from everyone as it really helped.

Did I mention that I love this car.