Thanks for your knowledge.
Greenberg's guide to American Flyer shows only the five stripes and does not mention any other stripe variation. I would be suspect to their originality.
Looks like a repaint or partial repaint. Masking from what can be seen looks like it has not been done cleanly.
I would say that has been repainted.
I would agree: A repaint. Particularly since there's no T&P decals on the cab sides.
Never having had any of those engines at first I was surprised to see the two different fonts used for the number boards:
After a bit of research it seems they were made like that:
Wonder why? Was one offered later than the other individually and then paired up later?
I have a pair of these purchased from John Heck. The fonts are different as on these, but mine are numbered 377 and 378. The set I have also has the five stripes as mentioned by others here.