Powertoys,
I am not very good at glassing yet I have not done much over the years, so all of my top flite warbirds were MonoKote with Lusterkote Paint if needed for the scheme. The P-47 I did was Monokote Aluminum with Black and Olive for the trim, and red/white I cut for the tail. When I did my Spit I painted on the camo with lusterkote, after I did a base cover job with Dove Gray Monokote, then used steel wool to scuff up the covering for paint. I then used a light amount of Flat Clear for a top coat/cover coat, etc. They have held up good, and look good enough I think for Sport Scale stuff. I would rather learn to glass, and then go with paint. Nothing like a good paint finish for a warbird!!!! If you are good at glassing, I'd say go for it, or want to try it. Monokote is the easy way to go. I've seen some guys just fill, sand, fill sand, fill sand, fill sand, etc, etc the wood and then paint. Good luck with whatever you choose.