I refinished my engle--it lives in the living room, and that orange color was just too ugly.
NOTE: These steps were done by a beginner and are offered just as experience to learn from, not as a guide to doing it right
Stripped it with a commercial stripper. The finish came off very easily--I belive it was nitro laquer. Sanded it, then stained it with a reddish brown. Finished it first with Behlen's Rockhard varnish, because I assumed I wanted durability above all with this workingman's instrument. The behlens is very hard to get an even finish with--it had a nice gloss, but like most polys it has a cold, bluish look. I let the varnish cure for nearly a year, then wet sanded it with 800-1500 sandpaper, to rub out uneven spots, drips and witness lines. Then I put a coat of qualasole over the rubbed out varnish.
Qualasole is very cool stuff--somewhat like french polishing, in that you are applying shellac, but simpler. It gives a very satisfactory but not glass like gloss finsih, warms up the poly undercoat some, and feels very nice
I made a mistake in the course of the staining which messed me up. But there's no reason why you can't get a better finish than the engle comes with, which is heinous. It looks great in the living room now, and i frequently get favorable comments on it at gigs
You could dull the gloss by putting a thin coat of shellac over it. One advantage of qualasole is that like all shellacs, it can be tinted, to maybe modify the color if you don't want to strip it. You control the gloss by the extent of rubbing you do as you apply it.