I came across this website while goofing around and decided to try it
on my 240: http://www.rickwrench.com/50dollarpaint.html

My wife said its the only way the 240 would ever get painted. :)

Well, 2 months later the saga has ended and the 240 is painted. Here's
a link to the before and after photos: http://picasaweb.google.com/briflo36/240

I have not yet posted any of the pics of it during the painting
process but I will try to get those uploaded sometime this week.

I will say that it actually works and I would recommend it to anyone
that has the time. Just be forewarned, it is A LOT of work. Its not a
perfect, custom $4000 paintjob but it looks better than it did and I'm
not embarrassed to be seen driving it. In fact, I was going to sell it
but its so cheap to own and maintain that I plan on keeping it.