Paint?....
I don't think it's really worth the time to paint the ride shoe. It's pretty much the only part of the boat that will always stay in the water. It will always get dinged up and paint will blast itself off.
Also, if you have not done it, don't pull that plate. It's a PITA to do alone. It also has to be sealed so you don't suck any air.
You said you had huge chunks missing. Was this from the wearing ring? If you have chunks missing but no real even wear all the way around, sometimes this means you might have a bad bearing. When the bearings are bad and the impeller shaft wobbles in the housing, the impeller may bite the side of the ring, taking out huge chunks. So, if you have the pump off or take it back down, try to wobble the shaft to see how much radial movement you can feel.
Pea blasting your plate won't hurt anything but I honestly don't see a reason for it.
If your down my way, around the bay or Dog river, holler at me!!!! We might can hook up. I've been wanting to pack up and take a 3 day trip up the river, heading north through the lock and dams but don't want to take the ride alone. It's always better to go in at least pairs in case something happens. :cheers: