Doug,
I have a 1921/1920 that has had the sear safety and magazine safety added. It too has the circle S on the left side of the receiver. The pistol is in the original rust blue, in the white inside, and nice halos on the barrel serial number. I know the circle S has been attributed to being a Simson rework mark, but my pistol has no other proofs or acceptance marks other than what was applied at the time of manufacture. Does your pistol have any additional marks other than the circle S?
Just my opinion, but I would leave the finish of the pistol just as it is. Even though it has been refinished, it is a part of the pistols history.
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