I used the sponge-on method with great results and no time spent taping.
The spraying paint into a cup works well, but I have a tip to add:
After spraying it into the cup, wait about 2 minutes for the paint to thicken up. When it comes out of the can, it's VERY thin (in order to pass through the nozzle in a fine spray). This is not the best consistency for applying with a sponge/brush, but, because it's so heavy on the solvents, it thickens up nicely very quickly (not like tar, just like normal paint).
Have fun!(p5blue)