I have a PW 14 Nismo, and after inspecting the area/lines between the white and gunmetal bottom, this is what I discovered. On the side skirts, the gunmetal area overlaps the white, while the front and rear bumper it's the opposite.. the white overlaps the gunmetal. Which means it's not a vinyl decal because that would make the white bumpers vinyl. So I'm pretty sure it's paint, but I guess if you really want to find out, try pulling a section off in an inconspicuous area like the fender wells.
The red stripes are definitely vinyl decals.
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