by Scrapiron-Scavanger
Paint --
No matter what brand you use, you want to stick with acrylic paint. It dries/holds up better than enamel paint. Just remember enamel paint is bad.
The pro's around here use war hammer paint. But for the starter/light customizer, I would recommend Apple Barrel acrylic paint. It is a lot cheaper and easily found in Wal-Mart's craft section.
As for spray paint, I prefer Krylon Fusion. You normally don't need primer and it doesn't chip that easily. But if you are on a tight budget, you can get the store brand acrylic spray paint and primer. If money is no question, go to the automotive section and pic up spray touch up paint there. I swear by this paint, it goes on smooth, more choice in colors (especially exotic) and it goes on metal and plastic seamlessly.
Tape--
I prefer using the blue tape. Just make sure that the paint underneath is fully cured before proceeding. The majority of time spent on a custom is waiting for the paint to dry and cure fully before continuing.
Pythonizing-
Python-Viper, Apocalypse, and Carnage are the experts, do a search with their names and you can find a couple tutorials. The main thing they use is those football jerseys for blocking the paint.
General Advice-
Be sure whatever you are customizing, that it is fully clean. You want to use some dish soap and wash it completely. There are oils, release agents, grim, and dirt on everything. If the part is not clean, it will not hold the paint, you will get spiderwebs, chips, and numerous other issues which cause un-needed frustration.
Before even cracking open a bottle/spray can, have a clean and organized area set up with everything you might need. It sucks when you are right in the middle of something and have to stop to go try to find something to finish.
Good luck and I can't wait to see what you crank out.