When using Bleach please make sure you wear protective gloves. I use a glass with good lid. I allow between 8 and 12 hours depending on how much paint needs stripping and during the bleaching period I shake the jar and check how the stripping is going.
To remove the paint I use a good old stiff tooth brush, washing up liquid and plenty of water. Once the figure is dry I remove any stubborn paint with a fine file.
So how effective is it and is it worth it. I will leave you to judge.
The pictures below show the before and after dipping on this original Hinton Hunt Brunswick Hussar which is covered in old chipped paint. If a figure is not to bad I would consider a paint rennovation. In this case this figure is beyond paint rennovation.
Having left the figure in bleach and after clean up the figure detail emerges in all its original glory. The detail is impressive and will be delight to paint.