when i was doin one of the fenders we used some paint stripper that we just brushed on, looked almost like rubber cement, it worked really good if u grinded some of the paint first so the stripper could get in and work through the paint
I've used that brush-on stuff in the past...it worked really good, but for large areas you just use so much and it seems to take forever to get all the paint off.
I've found a wire wheel in a grinder works really good. I haven't had a problem with it doing anything more then taking paint off on the '66.
looks great man.. my fenders and gate should be gettin that treatment in the next few weeks while we start attacking the front suspension for some adjustablity and DRAGGING