I came across this website while goofing around and decided to try it on my 240:
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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:
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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.