This is just my two cents from observation and owning a sailboat for 20 years.
Paint looks great. If your gelcoat has had it and will no longer polish to your satisfaction, paint is the only economical recourse.
The problem with paint is that it is much thinner and more easily injured than gelcoat. You will need to be very careful with fenders and docking in general. I personally would not buy a fiberglass sailboat that had been painted. The life of a paint job is a question you might ponder. I've heard ten years, but it may be less depending on the quality of preparation.
Still, many custom boats, and steel boats are painted and they do well. Just be careful with abrasion.