Flyfisher
Here is a link that has a lot of info in it about painting....I have talked with the formulators and technical personal at both Sterling and Awlgrip (along with a few pros in my area)....Personally I would go with Sterling....Extremely helpful and very convincing about the ease of the roll and tip method. If having it done by a sprayer (a pro with all the proper safety equipment...) then I would most likely go with Awlgrip. Oh by the way the tech people at Awlgrip really didn’t feel to good about recommending the roll and tip method...Even though they have a video out on how to do it.
Painting
Rich .... Thats personal preference....Paint is more involved but you will have infinite colors to choose from and I think it looks nicer than vinyl tape....procedure ....prep work sanding etc, masking , priming, and painting......unless its going over a fresh coat of a similar product then I would think you could go over it with a couple of coats and be good......Good question for the Manufacturer that you decided to go with !!!