first off there are more pigments in red paint then black,so by my math the paint weighs more therefor adding unsprung weight to the bike transversley slowing the top end performance of the bike.. In other words RED=BAD lol..
NBow for painting the bike,,hey man its your ride and if you want it pink with purple poka dots go for it.. First pull the parts off ot be painted,and wash them,and then wash them again,and when your done wash them one more time. Use Dawn dish soap,this is the best to use cause it will strip the wax.I use it befor any paint job I do..Next since your covering it with rattle cans,dont expect a show quality job. I would start with wet sanding using a 600 grit paper as stated above using a sponge block going in straight lines. Followed by 800grit paper. then you guess it wash it again,let it dry then wash it again..once it drys use some kind of fast drying qil,grease,blah blah removed desgined for painting. this will pretty much get you a good surface to lay some color on. once it drys use what ever brand of paint you choose,and color you want,remember light coats do much better then heavy coats.. The first one should barley cover,wet sand with 800 grit,wash dry wash dry wipe,next coat. The sanding between coats ensures the paint that was just laid down has a tooth to hold the new paint. then clear it if you want.. See laying down paint is not hard,its the prep work people dont get.. B uy if you have someone willing to paint it for 300.00 and does good work your are happy with,it is well worth it..
Now for painting the cartoon dude on the side of the tank someone talked of.. Tbhere are many stencles out there.. The good ones are multi layerd ones.. Onblt draw back is you need a air brush to do the work.. Pretty much put the decal on,paint the open spots,let it dry,pull the next section off paint that,and so on.. I have used one to paint a Garfeild on a tank.. More of a PITA then free handing it.But hey I am just the idiot with the air brush..If you want and have the down time.Tell me what you want and how big and colors and so on,I will try a few on a old fender I play with to see if it is something you like.Then we can paint it on your bike..