I've had good luck on some pre-lettered cars using Solvaset and a pencil eraser. If you work slowly and keep at it, the lettering will dissolve away and be rubbed out, but the paint will remain good.
I modified a bunch of cheap 027 cars this week. Anyone know how to remove stamped lettering without damaging the plastic underneath? Here is a link to another site where I posted pictures of some of my work today while I was sick:
http://www.mytractorforum.com/showthread.php?t=162254
Modeling the "Fargo Area Rapid Transit" in O scale 3 rail.
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