It'll do a fine job. And it'll look like a metal rail, gate, etc. That is, it won't be very glossy, and it'll have orange-peel and/or brushstrokes. And, like paint on a metal rail, gate, etc., it will probably chip more easily than spray. Note that these aren't value or quality judgements, just observations. It might make the bike look very cool. It'll probably make for a great theft deterrent.