A buddy has CamoClad on an old 870 and is OK IMO. It stays on in all weather. If you are set on camo, get it dipped.
I have a black SBEII and a camo M1. I am happy with either and if camo on the gun is crucial to a hunt that I have the SBEII on - there is always plenty of dirt around (wet glove and dirt, mop it on the stock, don't clean it off the stock during the season). If the birds are close enough to see the black gun as something out of the ordinary - it is usually when I am swinging it up at them and pulling the trigger.