Addressing the Underside Visual Advice

From the factory it would be mostly gray dip primer with color overs pray and the wheel wells undercoated. The easy thing would be to undercoat it all or paint it black.
That makes perfectly good sense as to what I am seeing. I was wondering why I see gray primer with original red overspray on both the bottom and the inside. Couldn't figure how that got there in those layers, now I know. Thank you for the explanation on the undercoat to, also makes sense on the amount and area I am seeing it. The wheel wells have evidently been touched up once upon a time but the underside and frame look to be original to the car. AdamR, you are right on point with your info...Thanks!