Let us know how that POR-15 holds up. I've been looking at some of that stuff myself. I also found Eastwood paints when I was looking for something for the engine itself, and I thought about using it for the engine bay as well since it has a good heat rating.
http://www.eastwood.com/ceramic_engi...FQYLbAodiR35IQ
Also, I've been looking at this hand held media blaster for the prep work so I don't have to sand everything by hand...
http://www.amazon.com/UNITEC-Gravity.../dp/B002C8E4YG
Someone suggested it and to use baking soda since it's water soluble, so you can wash it away when you're finished. Have you ever looked into anything like that?