Russ,
Since the cabooses are currently non revenue cars, they don't need to be painted C&TS. The Friends concept of having each one represent a particular era on the Rio Grande allows charter operators to have an appropriate caboose without having to have the lettering repainted each time. The problem with re-lettering is that once the paint has faded a bit, the patch job becomes very noticeable, especially in glinting light.
Of course, it will be great if when they rebuild the 0306 they put a light in the toilet and eliminate the small bathroom window!
Bad patch job!
Michael Allen