You don't need to remove the hood, but it does make it easier to paint if you can hang it on a wall. I would recommend removing the bumpers.

The nice thing about removing as much weatherstripping as possible is that it prevents tape lines in the paint which are almost always the starting points for paint chipping and peeling. If you can make it so that all tape lines are hidden under weatherstripping then you'll never have to worry about paint peeling as long as the prep work was done right.

Remove the weatherstripping from the front and rear windshields and replace with new when you're done. Also removing the mirrors, lamps door handles and the door upper moulding helps. About the only moulding that you can't really remove yourself is the quarter glass because the moulding is part of the glass. I was quoted $75 a while back to have the quarter glass removed and reinstalled after the paint was finished by a professional. They have a cool heat induction tool that melts the urethane holding the glass in place.