Putting flakes in the gelcoat would be the most efficient way of doing it, and I guess that the original use for bass boats is exactly how it was done.
For Norton tanks, putting flakes in the gelcoat would still require a coat of clear to be applied either before of after, otherwise flakes would be exposed to the elements and would silver instantly.
All I can go on is what I've seen myself: A NOS sidepanel with a rather orange-peely finish...
It could be that this reflects the state of the mould, but I think it hiighly unlikely; and the sags in the flake of the tank I'm doing now - unfortunately I've already flatted and re-coated that one, so no photos.
It's possible that they were clearcoated after removal from the moulds - this would explain the finish I've seen, and also the thin-ness of the clear layer, which is easily rubbed through with 360 grit - this turns the flakes silver...
Given how quickly the layer under the flake comes through, I'm still comfortable with my view that they were sprayed, as it's likely that it's the cheapest way to achieve colour saturation.
Furthermore, how else could they have sanded off the mould-line which would have to run down the centre of the tank?
Whichever way they were done originally, the only way to repair is to spray the whole shooting match with flakes in lacquer, and the high-solids 2-pack clear I use is very flexible while still being tough.
I can't comment on how craze-resistant it will be over time yet, but I expect it to be far superior to the original, more brittle finish.