I'll try to answer all questions:
I don't know the exact color of the blue one just yet and Yes, it was repainted, the paint is nearly perfect on it. The original color was red. I took the rims off the blue one because they were too big. 18" all around and 295's on the rear were bumping the fenders. I like the stock look anyway (Thanks to Moe -suprastanger507mgte). The hood is not fully closed due to some work being done on the engine btw. I got a great deal on it since I believe that #5 cylinder may be shot. And yes, they are Euro spec headlights (I have the receipt that says $589 for the pair).
I am not getting rid of anything right now. The silver MKIII is going to my son. The black MKIII is the one in my sig and it's not going anywhere (I have too much time in it to part with it). The black MKIV will be going as soon as I get the blue one running up to my standards.
Thanks for all the great comments guys !!!