Definitely paint it white. The more light you can bounce around the better you can see what you're doing.
I used a kitchen hood as well, though I made mine a stand alone affair...
I've got to get a better compressor, that little thing sound HUGE!
http://i2.photobucket.com/albums/y16/astr8shooter/Spraybooth/Picture006.jpg
I've got my eye on a 10x12 shed I can put in the backyard for my modeling. Maybe next year!