This would be an option, for sure, but I think I will go with wings extended. The honest truth is...it needs to be able to fly around the garage now and again!
So I started painting Vallejo Model Colour "dark sea grey" and then stopped because I remembered I wanted to do the black and white stripes.
This is just one coat of brush-painted grey - I wasn't sure it's really dark enough or the right shade, despite what it says on the bottle.
Then I masked for the stripes, and painted the black...and then I remembered the outboard roundels!
I haven't left enough space, but it's an easy fix. I will just paint grey over the outboard black stripe and move the whole thing inboard.
At least this technique looks like it will work. I will do the white stripes at the very end, with tamiya base white spray. It finishes up not exactly matt, but satin at best - near enough.
So the outer black stripe will be grey, and the outer blue stripe will be the outermost white one. That will leave enough room for the roundel out at the wingtip....i hope.
I am trying with 6mm tape so the masking is super easy - it may be that there's not quite enough room. We'll see!