I always walk the side, and always spray horizontally. When you walk the side you use less material, have less chance of getting a run and can do a job quicker. You also are not double coating the begining and end of each panel. That alone is reason enough not to do it. Think about it this way, if you panel paint, one coat of sealer, (2 coats on the edges) then 3 coats of base (6 coats on the edges) then 3 coats of clear (6 coats on the edges). So instead of 7 total coats you have 14 total coats on the edges of panels where you can least afford to have excessive paint buildup. Panel painting also extends the flash time and can trap solvents if you don't give extra flash time for double coated areas.