I repainted a similar era CF Trek that someone had already repainted. I did it myself, using spray paint, and it turned out ok. I was not expecting a professional job and therefore I was satisfied. It's a good "6 footer."

Realize that unless you are already knowledgeable about painting, or willing to learn and do a ton of work (and buy a spray gun, etc) do not expect it to look like a factory finish. You need a professional for that. If you just want to spray it a different color or whatever, go for it.

Do not use any chemical strippers or anything like sandblasting on the CF. Just scuff the paint with sandpaper and go from there. Avoid sanding all the way down to the bare CF too.