Kit looks great Lucas, nice job.
As has been said, I did the same thing with the same material to an old Star kit about a year ago. It has been set up at a friends place where we have been recording an album. It sits in full sun a lot of the time and so far has not faded although in some places the wrap has lifted a little but it's an easy fix. It gets really hot in the sun too.
It's a good alternative to wrap if the budget is limited as a whole kit can be done for around $30+glue and time.
I agree with Lucas on the sound. For a basic kit like these it doesn't seem to sound any different. I have recorded an album with my kit (primarily because I didn't want to leave one of my more precious kits sitting in the sun) and they worked fine. The drums were mic'd with just 2 mics so it's not super hi-fi. Here's a sample if you're interested: http://soundcloud.com/andrew-gladstone/sets/track-2-from-forthcoming-album/
