From what I understand about the denim finishes is that they have a matte clear finish. I think it is the same base as all the others it is the matte clear that makes it a denim finish.
Gotta love the denims! I had a 07 Night Train in Peweter Denim, and traded it in on a 07 Street Glide in Pacific Blue Denim. Denims are great for lazy guys like me, I spray it down with a water baby shampoo mix, hose it all off and i'm done. No need to wipe or dry the paint.
I have a 08 Crimson Red denim I love it. I just spray it with Harley Gloss takes me about 20 min to clean it I used to have show cars & trucks that just sat in the garage because I did not want to clean them. I bought the bike to ride not clean.
They're kind of growing on me. Wasn't a big fan initially, but I'm really starting to like them. Not enough to buy one yet, but I've got a buddy that's got the silver denim and it looks better WITH age.
OK here are some shots of my 09 FLTR. I fell in love with this color last year and had to have it. It is easy to maintain, does not spot or attract dust and cleans up with Harley Gloss OR Windex and a rag. I don't wax it, MOCO says not to. I have saeen them waxed and they will build up a gloss over time. As far as looking 'flat' my paint has as much if not more metalflake in it as any gloss finish I have seen, you just got to look closer to see it. But like some said, it isn't everybody's cup of tea...but I love it!