You know, you can Rust Oleum those calipers with a foam brush without ever taking them apart or blasting them I've done it to two sets and have had excellent results. I've also done it to wheels too, but I blasted them and sprayed them rather than brushed them. Any way you look at it, they looked pretty damn good. Overall, it was good enough for somebody to risk thier life taking it from me. Ii did make a few small detail changes after these photos were taken. I moved the location of the shock res, changed brake lines, replaced some body parts etc., but for the purpose of showing what a can of Rust Oleum and a little patience will net, these are an accurate representation.
Oh, if you want the "Nissin" to stand out like I did, all you need is a steady hand and several Q-Tips (wood handle with a tight tip) dipped in Acetone. You paint right over the letters like they weren't even there and then when the paint tacks up a little (about 15-20 minutes) you rub off the paint on the letters with the Q-Tip. Works perfectly.
After you paint these things you want to leave them sit for at least 24 hours before handling them. I took mine apart when I painted them and used the same "O" rings when assembling them. They never leaked. I would advise doing it this way, but if you plan to keep them together, paint only one side at a time. The paint takes a long time to dry, but when it does dry it's a pretty hard and durable finish. I had maybe 5k on mine before the bike was stolen and they looked as good as the day I put them on.