I can't imagaine being happy with how it would likely turn out. I have a `77 Pearson 30 with the same/similar faux woodgrain bulkheads. Here's a link to a site where someone covered with mahogany strips -- really classylooking, IMO.
More involved than painting, but not that difficult to do, won't add a lot of weight (if that's a concern -- guessing not for a liveaboard). I'm thinking about this as a project for next winter -- not ready to think too hard about that though -- just splashed this week
Link to the site: Spartina - Pearson 30 - Hull No 168