I repainted my GL1500 about 4 yrs ago and it came out fantastic. Always received positive comments because I went with a shade of blue never available on the Goldwing. With today's easy-to-use base/clear products, I was able to remove all the plastic and do various pieces in my garage at my own pace through the winter. I then bought a good buffer and wet-sanded/buffed the parts. The result was a "smooth as glass" finish. I actually left the main portion of the fairing on the bike as I didn't want to get into wiring issues. It was pretty easy to cover up the rest of the bike while painting the fairing, and saved me some hassle.
There really are a lot of parts once you start to break it down - but, if you have all winter, it makes a nice project. I sold the bike about 2 yrs later when I upgraded to the '05. The 1st person who saw it immediately bought it. Paint still looked like brand new. The nice thing about this type of project is that you learn how easy it is to fix scratches. You know exactly that you can often simply buff out or - if you have a more serious mark, how to wet-sand out, (reshot some colour/clear if required) and buff back to like-new appearance.
I would not recommend attempting a candy colour though. You need to know what you're doing there, or you will end up with a mess. Just pick a great solid or metallic colour that you like....its not a difficult job from a technical standpoint at all...
enjoy/