Yeah I would just find used side claddings in that color but I would paint the front bumpers (if they are the same exact style, are they?).
I think as long as the paint is of high quality it would hold up perfectly.
I mean how else do the 86 W126's paint hold up?
I had some paint flaking off my 92 W124's lower panels near the tires. However I'm sure that was because the tire rubbed against it.