After losing interest in this kit for a little while because of the poor fit of the cape parts I have returned to it and finished it. 
Sanding down the putty on the seam lines was not as bad as expected, the only real problem I had was all the dust getting on the rest of the figure, I had to wash and rinse it off at least twice. Painting the cape was easy to do and was done in three stages, first stage was spraying semi-gloss black to get a good base cover and then a dark gray was carefully airbrushed on all the raised areas to highlight them, the final step was spraying on some semi-gloss black with a red tint to it in all the recessed parts of the cape to provide a little more depth. Mixing a tiny bit of red to black paint to make it look darker is something I learned way back in my RC scale model days.
And a close-up of the Bat...
Matrixone
Sanding down the putty on the seam lines was not as bad as expected, the only real problem I had was all the dust getting on the rest of the figure, I had to wash and rinse it off at least twice. Painting the cape was easy to do and was done in three stages, first stage was spraying semi-gloss black to get a good base cover and then a dark gray was carefully airbrushed on all the raised areas to highlight them, the final step was spraying on some semi-gloss black with a red tint to it in all the recessed parts of the cape to provide a little more depth. Mixing a tiny bit of red to black paint to make it look darker is something I learned way back in my RC scale model days.






And a close-up of the Bat...

Matrixone