I did it to my USMC Ka-bar after a member here posted pics of his de-coated Ka-Bar. IMO, it looks much better without the coating, even though I managed to scratch the polishing while doing the job. IMO, the scratches add character. All I had to do it with was a buffing wheel attached to an old drill, which took forever, but it was worth it. If you don't want to scratch the blade, I would find a more "high-tech" way to do it. One more tip, don't remove the coating on the inside of the "USMC", "Army", "Navy", or "USCG" letters, it adds contrast to the blade and looks fantastic.
Edit: Don't let the blade get too hot while you are removing the coating, either, or you might ruin the temper. One of the reasons it took me so long was that I was paranoid about ruining the temper of the blade, so I took it R-E-A-L-L-Y slow. Paid off in the end, though.