Which way to finish suspension parts - Powder coar or POR-15?

Rocket, POR-15 is great stuff applied with a sprayer or brush that encapsulates the existing rust and basically turns it back into clean metal. As far as I know, it only comes in black. Summit Racing, Jeg's, and some local car parts stores sell it in a variety of sizes.
Powder coating is durable, rust-resistant, won't be affected by most chemicals or sunlight, is long-lasting, attractive and comes in a huge variety of colors and textures. The part is blasted bare, the powder is sprayed onto the part with a special gun that attaches the powder statically, and then the part is cured at a specified temperature for a specific amount of time. Your parts can be back in service as soon as they have cooled off. Powder coating encapsulates the entire part and keeps it looking new for many years, sealing out moisture and airborne environmentals. Coated parts clean up easily too (no more polishing!).
Despite popular belief, powder coating is NOT expensive. A half pound of powder is equivalent in price and coverage to three rattle cans of spray paint.
Please let me know if you have other questions or if I can be of service.