That also seems to be the case for Los Angeles based artist Logan Maxwell Hagege, who has made a great many paintings in the spirit of those posters. His web site is here, and a short biographical sketch here.
Hagege's images are carefully designed, often making use of profile views of his subjects (it can be easier to turn a profile into design elements than trying the same from, say, a three-quarter view). And since he returns often to the same subjects, viewing a large number of his paintings at once can cause a fall-off of interest. However (not having seen one of his paintings in person), I think having only one hanging in a suitable wall, might be quite nice for some of us retro fans.