To my eyes, the paint and decals on this seem quite original. Say what you might about the quality of Peugeot painting but the paint itself was remarkably robust and long lasting and, more importantly, Peugeot was one of the only firms of that era to clearcoat their frames, including the chrome. It's not at all unusual to see machines of this vintage this clean and unblemished. This one has obviously had a rather nasty encounter with something like a garage door frame.. the front end and fork have a worrisome angle! I suspect it was left in said garage thereafter.
As for PX-10 livery, the team adopted the classic white chequerboard livery in 1963 but during some races that year some riders' machines were still in the old blue and yellow livery. The new racing colours were available to the public c. 1966 although the earliest examples seen in this country date from 1968. The blue with black lug livery actually dates from this time as well and was always offered as an option with the PX-10 up to 1974 when the team colours changed to pearl white. So again there's nothing paint-wise or decal-wise about this example that indicates a repaint to me. But I don't think I want to take this machine down some Alpine pass at 55 km/h anytime soon.
Peter Kohler
Washington DC USA