Bill -- welcome to the WCHA.
If the wood of the canoe is basically strong, and if the canvas is intact, you should be able to use the canoe this season with just a little work.
Below are some links to some discussions in these forums about painting over old cracked or chipped paint.
A light sanding on the exterior is all that is required, if your existing paint is not flaking or chipping. But once crazing has occurred, it is difficult to eliminate it completely from showing through new paint. The more you sand, the less it will show, but don't sand into the canvas. l In the links below, you will see some pictures of a yellow canoe and how paint covered some bad crazing. If your crazing is light, sand it will and I think you will have a satisfactory new paint job.
Paint on a brass rub strip will chip or scrape off fairly easily, and the brass rub strip generally takes a bit of banging up -- that's what it's there for. If it can be easily removed before painting, I would take it off, paint the canoe, and put it back on, unpainted. I can't comment on the rudder hardware without seeing a picture -- most such hardware can be readily removed by removing screws.
If the varnish is sound except for small areas of wear, a light scuff sanding should be enough -- to provide some "tooth" for the new varnish to hold on to. But if the varnish is flaking and chipping, you have more of a problem.
With both varnish and paint, a new coat of paint is only as sound as what is under it. Chipping or flaking paint or varnish will continue to chip and flake, taking the new coating with it.
Good luck with your canoe -- being in the outdoors in a canoe is a wonderful way to go!
http://forums.wcha.org/showthread.php?t=5790 see pp. 2-3 of this thread
http://forums.wcha.org/showthread.php?7769-Painting-over-existing-paint&p=41339#post41339
http://forums.wcha.org/showthread.p...t-Restoration-advice-please&p=32358#post32358
http://forums.wcha.org/showthread.php?7775-Temp-repair-to-bare-spot-on-canvas&p=41357#post41357
http://forums.wcha.org/showthread.php?7619-time-is-not-on-my-side!&p=40689#post40689
http://forums.wcha.org/showthread.php?8564-Smoothing-Canvas/page2 starting at post 12, on bondo spot putty
http://forums.wcha.org/showthread.php?6607-sanding-or-not&p=35286#post35286
http://forums.wcha.org/showthread.php?8906-Repaint-Tips