Hi Mart
Version 2 will make it easier for stick-on graphics and also make a paint job with curves more even (eg Tug Cowboy's avatar). It gives a nice big area to work on.
I think it is unlikely that the front will have nothing on it, so the fact that it looks plain with no paint won't matter.
How about incorporating an air inlet somewhere in front of the engine position? The problem with most decks is that the inlets are towards the back, so you have to drill holes or fit scoops at the front to supply cold air to the carb. Otherwise it is eventually drawn from the back after being heated by the exhaust (not good for speed!).
If you can design something that seperates air and water, you'd be onto a winner. Very useful when you come up behind someone in a race who's throwing out a huge roostertail - all over your boat!!
My attempt (picture 39) -
http://www.nomra.co.uk/photos.html - there is a "diverter" under the top and small outlets for water along the sides (just below the USA flag)
Cheers
Danny