Look under some older Ford trucks, mid to upper 90's and into the 2000's. They used powder coating on a lot of chassis parts including spring hangers and front suspension parts. The fleet I work on is so rusted now compared to the painted frames of the GM's, its hard to believe the are the same age. Even some of the school bus frames that were powder coated are really rusting. Once water gets behind it, the rust just takes off, it must stay moist or something. You can go out and pull off large chunks of frame rust!

Powder coat is great as long as it stays attached and dry! Once you break the seal , all bets are off........

Stick with a good paint, atleast the next guy won't have so much work to do cleaning off something that didn't work.

Joe