Well if you hadn't guessed it from the picture above, I got a little excited about this project and with a little gentle prodding from my neighbor and his promise to lend a hand I decided to dig into this project early.
Thanks everyone for their advice and I still may look re painting or wrapping, but before I do I will work hard to restore it back to original. I don't plan put a ton of money into this but I also want something I can be proud of.
I started out using some acetone to clean up the over spray on the lower half of the gel coat. This was working so well it convinced me to try it on a small area (which got pretty big). The acetone was good but having refinished some furniture before I knew that stripper would make the process a lot better and mean not marking up the gel coat as badly. I did a search of the 4 big box stores nearby and found a product called "Soft Strip" by Circa 1850. It is a fine furniture stripper that is biodegradable. It also doesn't contain any methelyne chloride, N-methyl pyrrolidone or caustic which are all very harmful to fiberglass resin. The big reason for going with this product was that I could keep the hose close at hand to make sure I was rinsing thoroughly every couple minutes and not worry about killing off the lawn.
It worked like a charm!!!! First coat would take off the clear coat, a second to take the heavy pigment away, both of these working carefully with a putty knife. Then follow it up with a 3M scotch pad and lots of water. Then some compound, polish, and wax.
I honestly can't believe someone painted this boat???? Except for the one mark it is in perfect shape (for a 20 year old boat). You can even still see where the original MASTERCRAFT, and PROSTAR 190 decals used to be. Here are some before and after shots. They don't do it justice; hopefully I can get some with the sun out soon.