Can someone verify the paint schemes for the whole rocket - eg is the Yellow part actually Yellow? To me - looking at the catalogs - the color resembled more of a mustard color (for the sake of not knowing what the true color scheme is) and the other parts - like the fins are flat black and flat white - Is this correct ?

Most photo models are painted flat to reduce the glare from the studio lights. I would go ahead and make your model glossy.