but the finish is great! if done well. My latest toy is an '88(?) Ibis SS, that someone powdercoated before I acquired it. I did a fairly accurate resto, and have been using it for a coffee and bookstore bike. I don't think that I could scratch it with a knife (at least the dull one that I have in my pocket). The decals are later ones (san sebastapol) but they are accurate, and the bike is always a conversation starter.
So, I guess I have reversed my original position - if the bike is not one of those historically important thingies, then powdercoat is very practical. I keep looking at the brush stripes on my jeep, thinking powdercoat may be the answer there too...