powdercoating is the way to go.... last year I had my Trek 950 powdercoated for $75 including the sandblasting. Powdercoating is not like painting. The coating is actually a thin layer of plastic powder applied electrostatically to the frame and then baked to form a very chip resistant surface.
olivedrab or a medium brown is my recommendation, I wish I would have had my bike frame, Bob trailer, water bottle cages, front rack and handlebars all powdercoated at the same time olive drab
