I painted my brake calipers. The directions are straightforward and on the package, no need to post them here. Tirerack.com has the "paint systems" for under $40. I didn't buy my supplies for this project from Tirerack, but that is a great price.
Please kindly ignore the dirty wheels.
Rear wheel unpainted
Rear wheel painted
The entire process took longer than I was led to believe it would, but the results are worth it. Even my wife was impressed with how nice the car looks with painted calipers.