The original coatings are really quite good. I don't know enough about lens optics to know if recoating would address the flare, but as ferider says, the flare isn't a huge problem ... it's something to be aware of. In practice, I use this lens at f/1.6 (stopped down a tiny bit) unless I'm in extreme low-light situations and need maximum aperture. That frequently is a flat lighting situation anyway. I think the "veiling flare" is a product of the design, and it can be compensated for in the darkroom (wet or digital) by boosting contrast.
With a lens hood (I use a collapsible rubber hood/filter combo from B+W), this is just a dynamite lens.