I just finished repainting mine, I sanded the complete hull with 220 paper and painted it with Double D paint ( 2 component paint from http://www.de-ijssel-coatings.nl/index.asp
) I used a roller to paint everything, deck and underside, I used the rollers that desolve so every 15 minutes replace the roller.
I put 3 coats on it and is now like new.
it went very easy, just take your time and leave 24hrs between the next layer and you should be fine.
Make sure you get good rollers as there are differences, I used two different brands the "friess ultra schaum" were the best.
hope this helps.