Since I'm worried about water penetration (a neighbor has measured gusts of 87mph and rain sometimes seems to be horizontal), I'd like to repair the cracks. After talking with a number of people and doing web research, I ended up with lots of information but no consensus on how to do the repair.
I've summarized my findings below and would appreciate comments regarding pros and cons that are based on actual experience. Thanks in advance.
There seems to be two general categories of repair, cement/stucco based and paint based, each with several variations. References are marked with a number in brackets, e.g.  and are given at the bottom.
Remember the below is only for hairline cracks.
1. Cement/stucco based repair
Advantage: Still have low maintenance stucco finish Disadvantage: Repaired cracks will almost certainly be visible Options 1.1 and 1.2 are similar but slightly different.
1.1 Mix portland cement or stucco with half-and-half acrylic modifier and water. Apply with putty knife. Work to match texture. Apply fog (color/finish) coat afterwards. No need to widen cracks. 
1.2 Apply a acrylic multi-bond (green from one vendor), let set 34 to 45 minutes, apply a one-coat stucco matching texture, apply fog coat after a couple of days. 
1.3 A variation of 1.1 and 1.2 is to apply a new fog coat to all the stucco, not just around the cracks. This "should" make the cracks more invisible than any other method. I'm not sure how well this will work over my rough texture. Seems like this might also be a relatively high cost option. (Can't recall where I heard of this alternative.)
1.4 One stucco person who covered a small addition for me a few years ago, upon seeing I had some old color coat mix (left over in a bag) and a stained area of stucco, suggested I could take the stucco mix, add water, strain, and spray the "colored water" onto the stucco. I wonder if this would work to make the color uniform after 1.1 or 1.2? Also this sounds expensive (and a waste) to buy new stucco mix to do this to the whole house.
2. Paint based repair
Advantage: Finished job will be uniform color, possibly hiding cracks Disadvantage: Now have a painted surface to maintain/repaint.
Common: Fill cracks with Elastomeric Sealant (brush grade) or perhaps latex caulking. Still need to match texture, given recommended 2" width for sealant, so patched cracks might still show through new paint coat.
2.1 Paint with Elastomeric Paint  Advantage: Some stretch to keep very small new cracks from showing. Disadvantages: Costs more than regular paint per gallon and much lower coverage. Reports it is harder to apply than acrylic latex paint. Reports that it creates a vapor barrier which can cause problems if moisture gets trapped behind. Notes: Manufacturers have different recommendations for number of coats. Need to monitor application thickness.
2.2 Paint with Acrylic Latex  Advantage: Less expensive, easier to apply. Does not create vapor barrier Disadvantages: May not have stretch to cover new cracks.
 John J. Bucholtz, "The Consumer's Stucco Handbook" (30 page pamphlet)  advice from Stucco Supply store  "Kel-Seal Elastomeric System, a Technical Guide to Elastomeric Applications" (9 page pamphlet picked up at paint store)  Suggestion from paint store and several news group web postings