My intention, from the outset of this pipe restore/refurb was to learn on some old beaters. Funny enough, some of my first resto's have turned into some of my favorite smokers. One in particular is a beat up ol bent dublin, a Shandy. It had a crack towards the bottom of the bowl above the shank which also has a small crack, regardless I stripped it down and brought it back from the dead. Great little smoker.
Although I had every intention of pickin up some ol estates, fixin em up and flippin em on ebay. So far I have over 40 smokers and have yet to put any of em on ebay.
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Back to the stripping it down without messin up the nomenclature... I've found that using Miracle erasers and Everclear works pretty good. It allows me to get much of the finish off without screwing up the stamping.
The one thing you'll need to keep an eye on is when your buffing it after you re-stain it. I have a variable speed buffer and noticed that I did over buff the shank on one or two of my first efforts. I've read where some folks tape off the stamping with masking tape. I haven't tried it yet but probably will eventually.
The largest time consumer I've experienced so far is replacing the stems. I bought several stems from Vermont Freehand. Heating em up and bending em into shape wasn't near as difficult as the sanding down the tenon and stem to match the shank was.
In the end though, it's a very satisfying endeavor.
Enjoy