I am a big fan of powder coating. So far, I have done or got someone to powder coat my transfer case skid, full corners, sliders and a lot of brackets and all. The only downfall I have found is what someone else already mentioned.... touch ups. Other than that, find a good powder coater. I use a friend because he and his father are the only people I have found with in about 100 miles that does it and they let me do it all for free if I want. That being said, I have never had a piece peel or flake that they have done. The only bad experience with powder coating was when I bought my sliders from genright (only options was for them to come powder coated, steel) and they chipped with in the first week.
Two jeeps, neither like to work.