Here's a pic of a 79 on a rotisserie. As Renovations said, the bottom is black, and it has body color overspray around the edges, in this case Nocturne Blue.
If you are going to do a frame-off restoration, you would normally take the car all apart and do like in the above photo. Paint all the pieces separately and put back together with new or restored parts. Body and paint would be first. Then the glass, wiring, frame, suspension, rearend, steering, engine, trans. The upholstery would be last. So, in my opinion, there's no point in getting it running now, since you'd just have to take it back out. There are a few good threads in the "Restoration Projects" forum showing restorations from start to finish, so you could find a couple of those and see the order in which things were done.
If you just wanted to clean it up and leave it as it is for a while and would like to drive it around for fun, then yes, you could put the engine in and get it running for that. If you decide to go the fuelie route, it would be better to go ahead and put the engine in, since it's not an original setup, you have alot of things to figure out to set it up to run that way. And it would be better to set all that up and get it working right prior to doing the restoration work I think. You'd still have to take most of it back out afterwards though to go through the resto phase.
I wouldn't try to do fuel injection. It's extra money, extra work, extra parts, extra complexity...computer, electric pump in tank, extra wiring, shaker won't work with it. Plus if you have the Olds 403, I don't know if there's even a fuelie kit for it. So, that kinda thing doesn't interest me. I like the last century setup, with the q-jet, simple and cheap, and I can work on it
. And when done right, it's dependable and fund to drive with the shaker where it should be...sitting on the carb.
Hitman sells the decals here. Here's a link that shows the decals for a 79. For a silver 79, I'd get the orange ones:
http://www.78ta.com/store/home.php?cat=14Here's a pic of a silver 79 with orange(and red) bird: