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Hi Dave,
I see you got no replies on this so I?ll put in my two cents. My airplane is a flyer, 200 hours a year, as such the prop has nicks on it like you describe, I don?t feel qualified to paint a prop, I can?t balance it and I can?t insure each blade gets the same paint, so as a flyer, not a hanger queen my prop lives with nicks and paint erosion between overhauls, it?s just the life of a prop that?s in use. Mine is an MT that has a 72 month or 1800 hour TBO, it has 4 years in and 840 hours, by all indications it will make it to its 72 months then the shop will make it like new again.