I look at it this way, either go all the way, or don't do it at all. If you do it, just remove the caliper (brackets too if its a non-sport) and prep them very well. Too many people don't and the paint chips and it looks like sh1t. Also only use a high temp resistant paint and allow to dry fully before reassembly. Using bent up wire clothes hangers is a good way to hang the caliper so it can dry. Never let them dangle by the brake line, that can too easily cause damage to the lines. In the end its your call though.
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