I don't see any reason why you couldn't do it, especially with a steel frame... thing is, it takes a lot of time to strip everything off the frame and clean it to be ready for paint... and plain old paint is likely to get scratched and nicked at least a little bit just upon re-assembly... If I was gonna go through all that trouble, I think I'd want it powder-coated. It's not bullet-proof (the powdercoat) but it's *way* more durable than plain paint. just my .02
Same here, I did the frame on my ATC by sandblasting and painting and after a few months it was pretty chipped. The next time I blasted it and had it powdercoated with excellent results, it is a b*tch to get it to chip and it doesn't get stained from oil/etc...
The most durable kinds of paint that I've ever seen are the two-part "epoxy" paints that they like to use for marine applications... but I'm not at all sure that that is really much cheaper than paying someone to do powder-coat. There's a thread in one of the other forums where a guy had his frame, brake rotors, footpeg brackets, and various other bits powder-coated for $200... and the results look great. Keep in mind, when you get ready to do this, that you're likely to find little odds and ends that need replacing too... budget in a little bit to cover the nickel-and-dime stuff like swingarm bushings, misc fasteners, headset bearings, etc... One other thing occurs to me thinking about this... if you are going to use paint, you'll probably want to leave most of the original finish on the frame and only "scuff" it with sandpaper... that way when you do get a nick here and a chip there (and you will) it won't rust through. It's a big job, good luck!
i was curious about this... im trying to do this on the cheap... i had planned on doing all of the work myself. powder coating is just out of my budget... i was thinking that it(paint) would hold up. because it looks as if it was painted at the factory.