My tails were done using VHT + rattle can clear method. It turned out nice, but it always looks better if you have it done professionally. Even if you do it perfectly with wetsanding and polishing and all that, it might have an orange-peel look, or it won't have a super glossy, mirror-like shine.
Rattle can:
http://i29.photobucket.com/albums/c295/skoval25/Car%20pics/tails_two.jpg
Professional:
http://i29.photobucket.com/albums/c295/skoval25/100_2266.jpg
I'd get covers if I were you, or have someone at a body shop spray it with a black/clear mix