Dunlap was the "value" brand for Sears starting in '39-'40. It replaced the Companion label. Most machines were made by the same manufacturer as the Craftsman labeled machines, but with less expensive materials to bring the cost down (bronze bushings instead of ball bearings). If there is a model number on your DP, I would guess that it starts with 101 (Atlas), but because it is so different from DP's from that period it may have been made by someone else. Could you show us the model number tag if it still exists ?
If you decide to restore it, a near perfect spraycan match would be Valspar #85205 Classic Royal Blue. A decal image can be found at VintageMachinery.org (
here) and can be printed on white decal paper.
Here is a copy of page 30 from the 1941 catalog. Just before wartime rationing began. Your DP is on the bottom right of the page.