Bill,
You ask what would honest guys do? Well, I know a good honest guy who restored a car that had the entire top of the cowl rotted away! The cowl tag was a "see-through". What did he do? He restored the car to #1+, won every national award it could win with it, and guess what? He put the rotted original cowl tag back on it.

THAT'S an honest guy in my book. He has my respect. Once you change a cowl tag with a repro, all bets are off. There's no telling what the original was. It automatically casts a doubt of the real origin of the car.
I stand by my belief that the cowl tag should NOT be considered to be a reproduction part. There is only but ONE that should be there. IF it's gone, then that's just too bad. That's what history has done to that car. That's why some are worth more than others.
I'm not argueing with you, I'm just stating my opinion. My feelings about this subject are VERY strong and entirely unwavering. No cowl tag should EVER be replaced on a car (except the original after restoration). If the original is gone......well, then it's just gone.

Verne