My opinion on powder coating- based on my personal experience- is that it's way over-rated. Why? Well, if you get a scratch the coating and don't touch it up quickly, rust will spread under the coating and it will start to flake off in pieces. Try to touch it up and you can see where it flaked off under the paint.
I stripped the powder coat completely off my Rocky Road sliders and painted them with Rustoleum Black Hammered Paint. I did a test- one side I rolled on and the other I sprayed. Surprisingly, the spray side is holding up incredibly well. The rolled side is doing fine but when I actually use the sliders offroad that side chips easier, I guess because the paint is thicker.
Here's a link to my thread showing what I did...
Anyway- I dislike powder coat for things like racks and sliders, but maybe it's just me.