"a lot of work" is really what it takes to deal with anything correctly. Especially rust. There isn't some magical band-aid for the problem. What components are you talking about? Are you talking about frame rust, body rust, or..?
Ive used POR15 on a couple of spots that weren't too rusty, including under the battery tray and the front crashbar member. Seems to be holding up decently, but again, most of what I had was just areas of some surface rust that i want to keep from propagating too far.
I am planning on doing a few frame pieces towards the rear of the car when I'm swapping springs next time just as a precaution.
I also have a couple of spots on the body itself where the chipped paint was left to be by the previous owner and is starting to show a bit of rust, including around the top portion of the windshield. I'm planning on getting this sanded down to bare metal, going over it with a bit of POR15 and then using an airbrush to spray a bit of body color over it to keep it from standing out too much. Not a fun process, so I've been putting it off, but like I said.. to do it right I don't really know of a easy, quick way.