I wouldn't focus on the "Grady" part of it - it's just a plated (for lack of a better word) panel and that is certainly not a rarity in the industry (and other industries)
Regardless, the first step is that all of the failing parts MUST be removed otherwise anything you put over top will fail.
I would just take it all off - or at least well far enough to where it's solid. Try heating and scraping.
Then you can "cover" it back up any way that you want. There's lots of vinyl overlay stuff out there - 3M DiNoc is probably the best known - but there are plenty of these out there.