I've started out on a partly touch-up as well discovering this indeed always showed the "repaired" areas. Thus decied to go all the way and blasting the entire back.
I remeber (forgot to mention) I've put a clear plastic primer on before applying the chrome effect paint.
I don't have a picture on the "good" side at hand now, (don' t think it will show the right effect on a picture anyway) but in my opninion it looks original as the text is verry sharp and the refective area looks even and sort of the same as before.
As for the tail light housing I've found a solution using new inserts for bulbs (ebay).
I must say in the end I bought another housing though, as I found the housing to be too corroded (got verry thin in some places). But i figure this a good dyi repair for the bulb fittings. (if you want i can make some better picture on the fittings used..even may have a few lying around)