For what its worth I think that a white fuselage (its clean and business-like) with the underbelly painted light grey up to the wing/fuselage join (ala Lufthansa, Air New Zealand - it hides all the stains). Simple titles in elegant font which don't extend below the window line. The vertical stab should be dark color with a contrasting, simple yet memorable logo.
If you look at Lufthansa, Ansett, Continental - they all look fantastic.
Can't wait to see your 'new' L1011s!