Check to see the condition of it. A lot of people use automotive paint which is not good enough for something as important as the leading edge.
I remember reading somewhere that it encourages separation and raises the stall speed a few knots.
seconded. Also the weight of the paint could be a factor. I remember we had one helicopter that had worse performance because it had been repainted and weighed quite a bit more than the others, which only had one coat of paint. Just the leading edge probably wouldnt affect much, but if the LE has been repainted, chances are good that the rest might have been repainted as well at some point.