When one is a customizer, it's easy to focus on the total recreation of a pony. But there's a place for restoration too, especially with vintage collectibles. When something is hard to find, even in bad condition, it's sometimes better to leave well enough alone than risk damage. At the very least, one should try restoration or rehoming a rare vintage piece rather than customizing it. (I'm not saying don't customize an HK Peachy - possibly the most common of G1 ponies - I'm saying don't customize a Greek Peachy no matter her condition she's worth more in her original state.)
Here's another of the G1s I actually got around to restoring. I'd been trying to get my hands on a decent Fizzy for awhile, but I was always disappointed in the condition of the ones that came through my hands. Finally I decided that I'd just restore one rather than keep hunting.