For me -powder coating was cost effective. To get the toughness of powder coating you would need to epoxy primer(etching) to get the good grip on the SS. Then a top coat. Maybe I just get it done cheaper around here, but the cost was so reasonable and not having to deal with paint fumes, clean-up, etc..
If you haven't really priced powder coating, you should. Most powder coating places are shooting black everyday and have the black on hand. It's when you start ordering odd colors is where the costs go up.
If you have everything prepped for the powder coater where all he has to do is shoot, it might be cheaper than you think.