I actually prefer some of Faile's more monotone works than the colour versions. The stencils at Cans Festival do it for me. Personally a bright red image on my wall would do my head in!

b/w look stunning framed up with b/w matte and frame.....either way round.
Not sure on the navy and pooh colour monotones, would have to see them in the flesh to really comment. Have a red dog that looks awesome, a BFG or Mask would be ok, but know what you mean, maybe too much red??!! Again have to have a look....esp if I was spending that sort of dough.
With 3k I'd be waiting, give the cash to the people that actually do the great work rather than the _______ ______ (blankety blanks) on the secondary, unless there is something archival you really want. By the sounds of it there isnt?