Hi tempus,

It probably wouldn't matter if you used paint and then epoxy instead of monocote or any other plastic iron on covering. The biggest advantage to using plastic iron on covering is that it is very lightweight versus paint and epoxy. You will be adding considerable weight to your plane by painting and then sealing with epoxy. Also the epoxy will probably discolor whatever paint you use.

Just remember, the lighter these planes are, the better they will fly.

Jeff