Last year I wrecked my bike on good ol' Trimmer Springs Road next to Pine Flat Dam east of Fresno. I got it back up and running with some black primer and Ebay parts. This year, full paint job.
Spent about $120 in primer, paint, clear, sandpaper. Another $150 in one-time costs for HPLV gun from Lowe's, tarps and air filters for my makeshift paint booth, respirator, etc. Very happy with the results. It's a 90-95% the quality of a factory paint job and looks real good, even up close.
These pics are pure paint and don't even have wax on them yet. I also painted the rear sets and some misc plastic pieces that were originally unpainted stock.
Other mods -
Wheels. The bike came with red wheels. I polished the outer lip by taping off the inside, using Aircraft Stripper from Pep Boys on the paint, and then polishing with some Mother's.
Fender - used a grinder to get off, and used parts from the fender to remount the plate under the seat.
Exhaust - cut it in half and removed the innards. Welded it back together, painted it with engine enamel.
Sorry, I didn't wash the bike before I took these pics but it still looks pretty clean.