CF is a lot better over fiberglass, If you hit the fiberglass hard enough it will crack pretty badly or shatter into a lot of pieces. CF on the other hand is a lot stronger and will probably just get scratched a bit but constantly slamming it into s*** and the resin will begin to break apart and then you will be ******. The best material would be urethane since it is strong and flexible and will realitively never crack just bend in and bounce back. It also depends on how you drive your car if your careful then you should not have any trouble but if you drive wrecklessly nothing will last.
P.S. They also make universal aluminmum lips but those don't look good on our cars.
You can paint CF well but then what's the point of getting CF if your going to paint it? If anything it would be cool to spray it w/ a clear coat color so that it looks like colored CF.