Sorry if this has already been posted, I searched but didn't find it: I saw this engine on a NY-bound train at Elizabeth today. The paint was well-worn but still good-looking. Personally, I would have tried to line up the nose and side striping better. Please note, I didn't take this photo, it's from the referenced news article. I saw the engine passing overhead today but didn't get a chance to take a pic.
Two other NJT locos have been painted in other historic schemes. Details here: