Seriously rethink going with the powdercoating option. A good homemade job (others here have much more experience in this area than I do) requires good quality paint and primer, so you will be looking a decent amount of money right there. Powdercoating really doesn't cost that much. I have had frames done for $50, but under $100 should be pretty easy to come by, particularly since there is no sandblasting involved, which is usually ads $20-30 to the price.