The Energon Pub

I just snagged an ROTF Superion from Target.
The mold is really growing on me (so to speak).
It's got some good potential when you experiment with different ways of transforming it.

I just can't stand the colors.
Let's face it: Lavender is not the best color for an A-10 Warthog.
You get where I'm going with this.

So I've decided I will probably repaint this bad boy.
While I'm at it, I may as well try making it somewhat more "realistic."
That is to say, painting the planes in more military colors.
Granted, it's never going to be "realistic", but who cares?

I'm just looking for ideas in the following departments:
1. Colors - How could I make this not suck?
2. Paints - I'm new at the idea, so what brand/type would be best?
3. Application - Any advice on painting a figure so that it doesn't -look- homemade?
4. Not Painting - How do I avoid painting over clear bits? Masking tape, maybe?

Colorwise, I'm thinkin...
The jets would be a dark gray/silver.
The A-10s would be a military green or a desert tan.
The canard would be either light gray/silver or desert tan.

Like I said, this will be my first attempt at customizing.
I'm just afraid of horribly botching it.
Any advice is appreciated.