I've covered fancy bows with limbskins to protect them and keep the shine down. Just the sight window is uncovered, thats usually only if I'm using a high gloss bow though. Otherwise I've never had a problem with deer or game "seeing" my bow.
I love buying old bows that were painted back in the day. Never know whats under that paint, sometimes plain maple, sometimes a big score.
I'd dip a plain bow or metal ILF in a heartbeat,those finishes look incredible.
I've got nothing against a good home camo job either, a bow is a hunting tool so whatever it takes. Paint can always be removed!