I would paint it camo. To me, that's the best way to restore those golden oldies that have little value as a collectable....In other words, I wouldn't spray paint camo colors onto a 1959 Kodiak! But a Bearcat is another story.
The first thing to do is take off the adhesive shelf and strike-plate materials....order new ones, as well as a new string. Take some 000 steel wool and rub out the rough spots on your bow. Then take a mildly damp rag and wip the bow down to get all that dust off. Next get some Krylon camo paint, three colors at least. Spray paint at least two coats as your base color....cover every part of the bow. Let it dry for a day, then take some masking tape and rip off some irregular shapes....use alot of tape, enough to cover 50% of the surface area of the bow. Then paint the bow again with your second color. After it dries, go back and put on strips of masking tape that will cover the areas on the bow that you want to show after you've added your third and final color. After your third color has dried, remove the tape. Then add about three coats of Helmsman varnish in a spray can...the last two coats I usually spatter on by gently depressing the nozzle so that a little, but thicker stream of varnish exits the can. This will give your bow more of a non-glare finish.
I have done this to two bows now and I've been very satisfied with the camo pattern and the durability of the finish.