Remove the remainder of the taped on black plastic coating on the wrap handle and leave it bare steel, leave the hand gaurd on, wipe it all down with greased lightning (or some other degreaser), then wipe it all down again with a light coating of general purpose lubricant to keep away the corrosion and prevent the paint from drying out. This has worked for me very well and keeps it looking nice. In my opinion these older saws look best when left in their original glory state of "used but useable". Great example of a solid saw, love it.
Or put a new rubber grip on it, just don't wrap it with tape, looks tacky and doesn't wear well.