I would just paint the entire sides white and then do the flames in vinyl. Don't have to clear it then and the graphics can be changed easily.

Doesn't Formula use Inron? Not disagreeing with you, but they obviously don't have a problem with it, so is there a diff in painting new gelcoat vs old, or why does it work for Formula?

Painting white and then using decals for the flames sounds easier and cheaper, but I want to fade darker blue on the edges, over the slightly lighter blue in the middle. I know it will cost more, but I am going for something like this pic below, without redoing the upper half of the boat.
thanks, j. Sorry to kinda copy someones boat, but it looks awesome!

Check out www.lbgraphics.com They have vinyl with graduated color fading. The web sight is takes a little time to navigate. Lots of info.

that sight is pretty cool, but way unorganized. Thanks, I got some ideas off of it. You can also order just the cutout so that you can use it as a template.

I painted my 27' Carrera with Awlgrip 2000. Awlgrip 2000 is nothing like the original Awlgrip. With 2000 you can paint your boat out doors and go back and color sand and polish out and imperfections (orange peel, dirt, runs...etc). It cost me about $1000 in materials.
The money I saved doing it myself $6000. The graphics I'll do in vinyl. I even saved more money by buying a vinyl cutter on E-bay for $650 and I can cut out my own graphics.

Rule of thumb for Imron in the water is 3 days then get it out to dry. You can extend to 4-5 once in a while but that's about it. I have a friend that has done this for 4 years with no problems-but yes, it's all in the prep.

Vinyl can be airbrushed, but it has to prepped correctly. The faded stuff wont allow the type of look I think he is trying for since it is a linear fade and wont contour with the flames. One other option to consider is a digitally printed vinyl wrap. When you're ready to sell the boat, you can strip it and go back to the factory color.