Not an expert by far but here is what I notice.
There are a lot of stucco houses around here and I notice that most people opt for just painting them. I assume that is the cheapest option. They somehow fill in the cracks but let me tell you I can spot all the repair work from far. It does look a lot better than before but all crack repair is visible.
The inside of my house has stucco walls. The living room, stair case walls, upstairs hall and third floor are all made with stucco. Unfortunately it was all painted when we bought the house but except for some cracks it looks great. There is no peeling. I hired a stucco "artist" (
) to fix the cracks and he did some nice work with silica beads of various sizes that he used to match the texture but let me tell you, I can still see where all the cracks used to be. Sure, much much better but according to people that I consulted with you can never match stucco the way you match smooth plaster.
As suggested above, the best option I got was to resurface anew the whole area. I decided against it because I really like the look of the old stucco and it is in great shape (apart for the few cracks).
Sorry I did not offer much help...