I have a 2008 Honda Fit Sport GD3 automatic in Milano Red (081). I have always loved Milano Red since the 1992-1993 Integra GS-R days. But most people don't know some fun factoids about this color. Milano Red is actually a tricoat paint and is a three-stage paintjob. A bright red/orange base, a tinted violetish mid-coat (it's the interaction between the clear violet tint and orange that gives this red color its striking tones and depth), and a clearcoat on it. No pearl, no metallic, no mica. Most other colors are a two stage paint job, with just a base and a clearcoat.

If you like to buff your paint, you'll notice that your Milano Red will start to look more and more orange over time. The reason is because you are eating into the mid tint violet and exposing more of the red/orangey base color.

Most touch-up paints (even the Honda one) are just a single stage enamel and will not give you the same depth and are only good for spot work. If you want to repaint larger panels, be sure to use a 3 part paint system like this one:

 

My 98 Prelude is Milano Red. I have a little over 100k miles on it and the paint is very good yet.
My 2010 Fit is blue and the paint is not half as good as the Prelude.
Here's a pic of it from last summer.

 

Thanks for sharing!