I'd be curious what the restorationists versus the preservationists think about this topic.
I would say that a preservationist may also opt to even keep the original paint.
Glass bead blasting does not etch (remove) the metal. The glass beads actually peen the surface. If you look closely to metal that has been bead blasted you can see little round dents. There are also other nondestructive blasting media like walnut shells that won't harm metal at all.
Justin