ORIGINAL: BillB
Been there, done that. Covering with monokote is lighter by far, than going the thinned epoxy and then painting route.
Gentlemen, nobody is listening. He is NOT using epoxy to anchor the cloth, he wants to use Minnwax Polycryllic.
Yes it has been done, weights seem to be similar to film coverings from what I have been reading. Definitely lighter than epoxy... The only thing to know is that the PolyC and latex paints are NOT glow fuel proof. You need a laquer or two part clear over your color coats to fuelproof and seal it. The PolyC is not as hard as epoxy and a bit more subsceptible to hangar rash, but much tougher than films.
Mark