I tried to buff out the paint and wax it first, however there is some old school glitter mixed in with it. The glitter appears to be silver and the paint an orange color. When I buff it the color does not come back in the areas where it is faded. If anything it gets more silver.
I have not started yet but would like to start this weekend. My plan is to remove all hardware from the hull, take out the seats, wash it, scuff the hull with scotch brite grey, wash it, de-grease, apply the prep spray, paint 2-3 coats of the Kopper Kandy that I got (I'll have to see how it looks), spray the clear, wet sand, buff, wax, reinstall everything I took off.
I'm hopeful it will go well but not overly concerned if it doesn't. It's just a paint job and can be redone.