I usually only defarb if it's needed. What I mean is, if the gun is already in rough shape, I will take the extra steps to remove unwanted markings. The one marking I always leave untampered with though, is the serial number.
This is a 1972 vintage ASM Dragoon that I acquired a few years ago. The finish was in a sad state when I got it. So I removed the rest of it and took off some of the markings. Mostly the billboards on the barrel. The grips had a big brass eagle tacked onto each side. After removing them, the grips had holes in them from the tacks. So I just put them back in the holes. It's not ideal, but until I can find a set of grips for it, it'll have to do. Here it is with my 1860 Army. Both of these guns have been tuned by Goons Gun Works, and are prized possessions.