Alright its been in my mind for WELL over 6 months now, Im not the best painter :p kinda sloppy with a paintbrush but im going to give it a try!
Going to do it silver lettering and black cover.

My question is what kind of paint would you recommend? i probablly need a high tempature paint right?

Any tips would be appreciated!

 

I used Krylon Fusion, stuff that bonds with plastic, no high temp paint. Use lots of Dawn to get all the grease & oil off. Take your time and do thin coats. Might check Reflective Concepts for the lettering if you don't want to risk painting by hand. Looks like he has the 5.3L V8 but not DoD or AFM words... e-mail him and ask though

5.3L V8 Engine Cover Overlay Decals - Monte Carlo SS

Bought my overlays from Reflective concepts (not the 5.3 but you get the idea):

 

Just take your time, and if your no good with a brush i say just get the overlay

i used all dupicolor products,

Prep spray: to make sure the plastic was clean
(wax and grease reomover)
wiped down with lint free rag

Adhesion Promotor:
(plastic primer)
did 3 light coats with 5 or 10 min in between and applied paint within 10 min, per instructions on can

Perfect match Paint:
i don't think the cover would get that hot so i wouldn't bother with hi temp paint
i did 3 light coats with 10-15 min between, let it dry for 24 hrs then wet sanded
wiped with water and lint free rag, dried with lint free rag
hit with another 3-4 light coats

Perfect match clear:
Did 3 light coats with 10 min between coats then the last one i gave it a heavier coat

here's a pic befor i cleared it, i don't have a pic of it cleared yet