nsmilligan, I am the "toxic paint guy"....
The paint I used was a "moisture cured urethane". It has held up extremely well. It was made (and still is) by Mastercoat Industries.
As far as powder coating, it is a type of finish, that is applied a certain way. Powder is applied to a surface "electrostatically", then the piece is baked to cure it. Applying it electrostatically, insures coverage even in places paint could never go. It might also trap moisture under the powder in some cases. We all know what happens when moisture gets trapped under paint.
Years ago, Volkswagen beetles were painted electrostatically. Superior coverage, and NO overspray.
To put it as plain as possible, a "ground" is put on the piece, and a "positive" cable is connected to the spray gun. They are drawn to each other. Something to do with ions...
The grass catcher on my 36" Bobcat mower flaked off after 2 years in spots, huge chunks. Seems the coating got chipped, moisture got under it, and bye bye finish.
~Chuck