The idea behind a hood blackout is to minimize glare on your hood. Matte black works best for this. Gloss black is shiny and reflects lights which is the opposite of what you want to do. Yes, you'll get glare from your lightbar. How much will depend on the bar's beam pattern, how you have it aimed, and how far back on your roof it sits.
Menards has the PlastiDip for about $6 a can, Amazon has it sor about $7 a can. You eliminate overspray by taping off the area you don't want to paint. You basically follow the line the raised part of the hood makes.

 

It bothers some people others it doesn't. I think the point of the matte finish is to kill the glare from the lights going gloss would be counter productive I would think. The spray cans come in matte black and are easy to use. I would try to do it indoors if possible as the cans do not like being cold when sprayed. I generally stick them in a bucket of HOT water before spraying and rotate them to keep them warm and flowing smoothly. For larger projects I use a spray station and buy it by the gallon

Plasti-dip is easy to use, I mean come on I've painted 4 whole cars with it. I've also done the grill and light surrounds on the 110 with it as well.

Here is the MGB in dip.



Here are some 110 parts in matte black spray can






Just take your time do a lite dusting coat and wait about 15 min then spray normal coats 15 minute interval on those as well. 5-6 coats should be a good thickness. You want a build up so you can peel it later without it being a pain in the butt. If you don't do it thick enough goo gone will take it right off.

 

MGB in matte black I almost left it this way lol but it was a base coat. It was a little blotchy but it was still wet in spots from some touch up shots.

 

Slightly off thread AR, but that B looks fantastic. I was brought up with MG A's, B's and C's and none looked as good as that. In the late 60's I rebuilt and resprayed my MGA twincam which was originally in the awful original pale bluey colour, I hated it. I changed color to a metallic midnight blue which in those days was unheard of

Funny but true story! when I was 17 a guy was selling a Jaguar SS100. At the time I didn't have enough money so asked my father to borrow £120. Being him he said he'd want to see the car first. So the seller dropped around with it. On seeing it my father said "I'm not lending you that kind of money to buy a car that doesn't even have a roof" so I never bought it. Today the Jag SS100 would fetch around $300,000-$500,000. Hey-ho, can't have everything one wishes for

Résultats Google Recherche d'images correspondant à http://www.suffolksportscars.com/images/gallery/gallery/ss100(3).jpg

 

Totally off topic but the MGB is my baby. That is the third color it's been this year. It started out Royal Blue Pearl, then Saturn Yellow Pearl and finally the Kamodo Color Flip pearl over a red pearl base.

Similar story for me Dad and I wanted to buy a E type drop top for my first car and my mother stopped my dad and I. $1250 needed a top and a paint job otherwise perfect. I still hold that against her.