Have you thought about wrapping the boards/rudders as well?
As long as it doesn't affect the performance of the boards this could be a real eye-catcher.
It would definitely be cool but I doubt it will withstand the wear from sliding in the trunks for long. It would be tough to get the seam to not affect foil performance and I'm not sure it would survive complete submersion under those circumstances. Gelcoat definitely has a purpose there.