Is getting the "ultimate" finish on this machine important enough to put yourself at risk of highly toxic chemical exposure? If so, I guess you are on the right track. Maybe you can amortize the required protective equipment over other projects.
I am on the "make it functional and put it into service" track- all my machines have the patina they came with. My neighbor customizes motorcycles in a perfectionist way, so I can appreciate the path although I do not follow it.
It's great to see this restoration happening. It will be a lifetime saw, but don't kill yourself on it.