Randall,
I've got to agree with Greg. Most people who take a train ride don't much care what it says on the engine or cars, but a few people do, and they are most likely the ones who are interested in history.
The C&TS needs to get as many people to ride as possible, and to do that they need to promote all aspects of the ride. Scenery and the historic nature of the railroad are probably the two major draws and to be historic, they should be trying to make the railroad as historically accurate as possible.
When I go to the Henry Ford museum, I'm not confused by the fact that the C&O 2-6-6-6 says C&O on it. I know I'm at the Henry Ford and I appreciate that the engine is displayed authentically, not lettered for CSX or Ford!
When people ride the Huckleberry Railroad, they know where they are but many of them appreciate the fact that the engine (D&RGW 464) has been restored as authentically as possible. Their other engine (4-6-0 #2), which has been lettered for the Huckleberry Railroad for many years, is now lettered USA and carrying #152, its original number and lettering under original owner the Alaska Engineering Commission, a US government agency. Plans are to leave it in this configuration until it undergoes its 1470 day overhaul. I'm hoping it comes back that way after the overhaul as well!
Michael Allen