Yes, gray covers any and all colors. Someone asked a while ago and I can't remember who found pictures. I'll try to either dig that up or go find other pictures.
ETA: Found one. Took a bit of googling (and stumbling upon a Yahoo question asking why you can't breed a cremello to a gray and the top answer was a very drawn out "because OLWS" *snort*) and the pictures aren't fantastic, but this is all I've found so far: http://www.tidecreek.com/Laceyspage.html
Essentially, I imagined they would only look different grayed out because their skin will be pink.