Refinishing

I don't want to stir up a hornets nest here, but what is the consensus on refinishing? I ask with particular reference to an S/42, 1936, matching piece. This Luger has about 30 - 40% blue, scattered pitting, and the ever present sliver broken off the L grip under the saftey. I would think re-bluing an example such as this would not jepordize its' value. What say you all? Is this a tendency that many have that are new to the avaocation? Thanks for your comments.