Need some help and opinions please!

First off, is it safe to paint your coil packs? I know some people have done it (Spd-Kilz) but I read on another forum that they are magnetized or something and you don't want to interfere with it?
Secondly, my car is in the garage, valve covers and coils in the house ready to paint. I'm contemplating painting the intake or not. Unfortunately I don't have the money right now to get everything powdercoated, and I don't think I will anytime soon. Plus a lot of people told me of their success just using some duplicolor paint. Could someone share the paint process with me, as in, prep work, sanding, primer/color coats. That'd be great.. Anyway
I'm thinking of Painting the valve covers and intake gunmetal gray, and the coil packs red. How does this sound? Or do you guys think switching that around might look better?
Thanks LS1Tech

I'm glad I was able to get all your info though, as I will absolutely use you in the future. As I stated before, your work is gorgeous


