The valance was painted on the car and removed to assist in ease of assembly for certain parts. The blackout was applied when it was removed (but painted) and re-installed after the other steps were completed. The core support blackout was applied sometime after the front valance was removed. Both black out steps were probably performed very close together.
Hey Dave, maybe I misunderstood that somehow, but if the blackouts were applied with the valance removed then there wouldn't be any blackout overspray on the valance. All the valances shown so far have exhibited blackout overspray. (but Not undercoating)
