Thanks scott excellent write up, you hit it right on the head.
The cracks or crazing as you define them seem smaller than the ones on your pic, but its hard to be sure as there is no scale in the pic.
I called a lot of paint companies and fiberglass manufacurers today and it is the fiberglass that is cracked, thru the full body paint, and into the clear coat.
So you either grind it down, patch the cracks you can see, wait for more to pop up over time, or replace the entire sidewalls with new fiberglass.
Both options are not cheap.