The Tiger I have pictured in post #9 had similar paint issues tho this radiant green Corvette. Not quite as bad, but still did not look pretty. I got the bike in a trade and cost was around $60. Since that bike is not uncommon and I wanted to use it as a rider, I decided to try "touching up" the paint. Found a standard automotive paint that was a very close match to the radiant blue of the bike, not identical, but very close. This was a total overhaul, so I had everything off the frame. After cleaning the frame, I started doing touchup, and it was looking good. I decided a lite overspray of the whole frame would look really good. So, I masked off all of the decals, and then did a lite overspray. Bad areas got more coats. Also did a little bit of touchup in select areas of the forks and chain guard. The result was excellent. You have to be withing inches of the decals to see the slight difference in the shade of blue between the over painted area and the original areas near the decals.
For the radiant green I was thinking something similar. If I could find a paint match, my thought was to smooth out the paint surface with 0000 steel wool. Not sure decals are worth saving on this frame, so I would probably go right over those, but mask off the head badge. Then do light over spray coats and see how it goes. The idea would be to just make all of those rust blotches go away.
The alternative is to give the bike a good cleaning and wax, and leave as is. I think from a distance it will look just fine, but close up there are a lot of warts. The fenders are in great shape with no dents, so that will be a bit of a contrast.