I've been using POR 15 for many years. This is my personal experience with the stuff.
POR 15 Gloss black, silver and clear work very well. Do not buy the flat black! It dries porous and will rust through! Do not thin the paint for spraying, apply by brush only.
Always apply 2 coats. Allow first coat to dry until tacky but won't come off on your fingers, then apply second coat. As stated before, POR 15 cures with humidity. The MORE humid, the FASTER it dries.
Clean metal should be sandblasted first to roughen the surface then treat with metal prep etching. I never had POR 15 peel off anything! It is UV sensative but color wise only. Sunlight will not cause it to peel! Besides, your painting the undercarriage not the body.
The first car I had used this stuff on, has been done for 8 years now. The rear end housing and engine K frame are as shiny and clean as the day I painted them!(Gloss black and no top coat)
As far as engine paint, the best thing to use is single stage enamel ( auto body paint ). Clean and degrease block and heads thoroughly and repeat 3 times!
Apply a thin but covering coat of etching primer. I use Dupont Vari Prime. Have the desired engine color mixed up at the paint store in single stage enamel and get some "wet look" hardener.
Mix enamel, reducer, and hardener as per directions and apply a single covering coat of color. The trick is to keep the paint thickness to a minimum. Don't apply thick coats of primer or top coat or the paint will fail! This is the best engine paint ever! 8 years and looks as good as new, with no rust or touch ups!
As I stated in another post, I have never found an exhaust header or manifold paint that lasts for any length of time! I had better luck with VHT than the POR 15 manifold paint! Don't waste your money. Just get it JET HOT coated.
Again, this is just my personal experience. Agree or disagree, it worked for me! (hey that rhymes)
Good luck