hey z, if you're worried about the wells, get a big garbage plastic bag, cut it so that it's flat and masking-tape it behind the brakes and calipers. Newspapers are fine too; it'll be jsut like painting the walls/ceiling of a room, and how you have to cover teh floor before you do it.
You can take the caliper off to color the whole caliper, but this can be really hard, and you have to know what parts you're dealing with.
painting just the exposed portion of the caliper will let the paint wear off more faster.
this thread will give you the basics of brakes and caliper installation:
http://www.7thgencivic.com/forums/sh...threadid=21621