I did it over the winter. It's only been in the water once, so far. I managed to hit some rip-rap while launching with no damage to the paint, though.
I have concerns about how well it will hold up too. I know it will be more fragile than gel coat. Scratch repairs should be easy, though; just get out the can of spray paint.
I'll let you know how well it hods up at the end of the season. I figure if it really was a bad idea, I get to spend another winter sanding. Hopefully, not.
I really don't expect flaking or peeling, based on my experience with the daggerboard, but time will tell. Also, I'm hoping the UV resistant clear coat will help.
The white boat is a Laser II. Never very popular in the U.S. but very fun. Spinnaker and trapeze. It's an '81. We're hoping to race it in the Leukemia Cup regatta on Memorial weekend. I get to ride the trap! Have some fun and raise a little $ for a good cause.
Maude. My first laser, bought 2 weeks ago from a sailing club where it had been rotting in a hedge. She's a 1970s (68710) model with Sail repaired, given a damn good wash, some new rigging bits, needs some gel coat fixing and ready to go for sea trials over the next few weeks. I am uber excited! And thanks to all here for putting up with some pretty nooby questions over the last week or so.