There was a Peerless Foundry in Indianapolis, but the word was also used as as a model designation by some others. Most restorations try to keep to the original look. Disassemble all parts for ease of cleaning and for painting of different colors. Electrolysis would be the best choice for rust and remaining paint removal. Many use a high-temp gloss or semi-gloss black on the grate and feet, a matte silver or aluminum color engine paint on the burner body, and a clear lacquer on the outer parts of the gas valve and air vent.