There are huge variety of Acrylic Paints available for foamys (water based). Michaels craft store has a huge selection of flat, gloss,and metallic's as well.
They cover my foamys very well.
As far as hinges I'm using CA Hinges on the foamy in the pic below. Keeps the ailerons nice and tight up against the flying surfaces. I don't like the tape onmy foamys as it stretches along the mating surfaces after a while and has to be replaced frequently. If you use CA Hinges you could glass the flying and control surfaces with epoxy and 0.5 oz cloth if you really want to use paint that would other wise melt the foam. Polyester resin will also melt foam.
IMHOI would stickwiththe waterbased acylics for foamys. This place http://www.tcpglobal.com/autoaircolor/
has a nice selection of water based paints alled AutoAircolors. If your looking for more exotic colors they offer Createx Airbrush colorswhich arealso water based.