I would put it together if at all possible. True, there is a good chance there will be no issues and it will match spot on. There is also a chance it might not. Reds are very transparent, so one panel being sprayed just a little bit heavier than the panel next to it, might be enough for the color to be a shade off. It does take longer to do, but it's the route I'd go. I think your plan of jams first, then assemble the body, spray the body together, then if you want, take it apart to sand and buff it. And it doesn't need to be crazy, it's not like you need to spend days aligning the body. You might be able to just set the fender on the cowl, and something like a saw horse to hold the front of it up. Just set it up so you can spray easily from panel to panel. You don't want to regret the extra day or two, when the car is all done and it looks like it was panel painted. Just my two cents!
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