PB with micro-balloons is supposed to be really good as a fairing material since it is fairly easy to sand...
There are so many good quality marine paints out there...their biggest drawback is that they can get quite pricey...and depending on the actual finish you are after, some will only get a nice smooth and glossy finish if sprayed...others can be rolled and tipped with excellent results, while others can be brushed on and then wet sanded and polished...
Believe it or not, a tough industrial type enamel coating, like Rustoleum, is inexpensive, easy to apply and recover in the future, and come in a fair assortment of colors...
For areas where traction is a must, you can add different types of grit, such as crushed walnuts or sand.
On areas that are not subject to constant wear, such as the outside of the hull, some very high quality [read costly] epoxy based paints, such as Dupont Marine Imron or Sherwin Williams Marine Coatings, others such as Awlgrip, Interlux, and PPG...acrylic and alkyd based enamels are also used...Rustoleum is used quite often throughout the forum here with fairly good results...
Most high end yachts and ships are painted and live their lives in the water...of course they need to maintained and repainted every so often, but it is the coating of choice on large sea vessels...much more cost effective than trying to gel coat a hull the size of a football field, or larger...
Many companies like Hatteras, Chris Craft and Bertram have used paint systems almost exclusively on their NOT inexpensive boats...some of the reasons they state include higher UV resistance, less maintenance, longer life spans and easier touch ups...
I personally can't speak to any one specific brand of paint since I have dealt with many brands over the years and find that the one major factor affecting the paints overall performance is prep and application...done correctly and according to the manufacturers recommendations, most any quality coating will give more than satisfactory results...