Before You Begin

The absolute best substance i have found for removing paint AND METAL PLATING (including the electro static coating) is Castrol Superclean. Besides removing paint, Superclean will remove some old glue joints and softens putty.
I've never had a single styrene part damaged from this stuff, but I don't know how well it works on other plastics like vinyl and latex.

I feel this process is much safer then my old method of using lye
products (Drano and oven cleaners) but it is still a harmful chemical and
use all apropriate safety measures.

Step 1

First off, you need to put on gloves when using this stuff as it will
dry your hands out to the point that the skin peels and cracks.

Step 2

Fill a nice big tupperware dish (one that absolutly will not spill)
with Superclean.

Step 3

Then just drop your parts in and the Superclean will do most of the
work. The paint should start to peel in minutes, but you can allow the
part to soak for hours.

Step 4

Remove the figure from the tub when the paint is dissolved. If there is
some stubborn paint that won't come off use and old toothbrush to lightly
scrub it away.

Step 5

Clean the parts very thoroughly. Make sure you clean any that is
spilled immediately.