Ed, it was great to talk with you at the show, you do amazing work, however, after hearing what Lloyd had to say.... I just have to see more of the Italians!
From what I can determine the originals appear to have been "rolled on" as indicated by the marks I have seen in the paint on the NOS ones.
I made a roller using a paint roller and some 1/8" thick foam from the craft store, then mixed some paint and tried a couple of passes on an old raised letter license place then went at it.
If you mask around the script to keep it off the case you will not get paint down in the letters, although if I remember correctly Lloyds does have paint running into one of the letter knockouts.
The surface is not porous it does not take much paint to fully coat the letters.