Aircraft stripper is awesome for removing old paint, compared to the regular kind. It's kind of expensive (approx. $22+ per gal.) but gets the job done in a fraction of the time with minimal sanding. I like to use a two-component epoxy paint, it gives a beautiful finish with no "orange peel" and I like to refer to it as "colored armor plating"!

I'm a professional spray painter by trade, so I have access to spray guns and get to use a $100,000+ paint booth. I'm not trying to gloat or anything like that, but I just lucked out in this area.

I have offered to paint frames for my cycling friends many times, but only a couple of them have ever took me up on it.