Steve, Cordelia's paint was Dupont Imron. She was already painted when I bought her in 2006. She had been painted in 1997. Modern paints do not generally have the same problems with fading that gelcoat does. And red gelcoat was the worst as it always turned a chalky pink. Cordelia had been built as a custom red Ericson from the factory. I know of no other Ericson that was not the standard light gray. The attached photos are from 2008 after we did a complete detailing:
Imron is, in my opinion, a much better finish than Awlgrip. Awlgrip has a proprietary formula that enables a clear coat to float to the top layer. This clear coat is a protective layer that cannot be buffed. If you buff through this you will damage the underlying paint.
Imron, on the other hand, gets applied as a base coat/clear coat in separate stages which can be buffed and polished.
Folks will argue that Awlgrip is great as long as you keep up with the proprietary maintenance products only available from Awlgrip. But if you happen to scratch it you have no way to repair unless you hire a pro to repaint.
The above photo is the result of many hours of buffing out scratches from the previous owner. Unfortunately some were gouges and we eventually did reapaint the entire boat in 2009. We sold the boat shortly thereafter.
Another thing to note is that Imron is extremely durable. It took 3M Super Duty buffing compound to even begin to bite into the paint.
Cordelia is now in Annapolis so you may see her in the bay. It would be great to have 2 red 35-3s though.
Another thing to consider is having your boat professionally buffed and polished. If you were local I could show you some amazing things that can be done with today's modern buffing compounds. See the attached thread for some great photos:
http://www.ericsonyachts.org/infoexchange/showthread.php?t=7567&highlight=helping