I vote doing it the skinboat school way. Has worked for me very well, with very straight seams and tight skins for 3 kayaks, so far.

"This boat of your´s is the reason why I´m building a kayak. I hope mine will look half as good your´s."
Thanks, that makes me feel good. I'm sure your boat will look great!

It doesn't take much oil paint to mix with the polyurethane. You will need to do it for several coats, depending on the color you want, so don't worry about getting it exactly the color you want with the first coat. I think the minimal amount of paint added, the better.

Are you sure that the Coelan is going to go well over the polyurethane? I have not heard of doing this - but I know nothing about Coelan. Just wondering.