I painted my 1100 front cover and rocker covers with Hammerite Smooth (the new formulation). It was absolutely fine and looked as good three years later when I sold the bike as it did after I'd applied it. It is eminently 'fit for purpose' if you prepare and apply it correctly.
After removing all loose coatings and feathering the edges of existing sound powder coat, degrease thoroughly with panel wipe (I also put my rocker covers through a dishwasher cycle when my wife wasn't looking), key the surface with a coarse (grey) scotchbrite, degrease thoroughly again.
I didn't bother with a primer.
Warm the part first (I used a heat gun for the rocker covers, fired a fan heater on 'warm' at the front cover for 1/4 hour ). Mist thin coats on using a well shaken and warmed rattle can (leave it in a bucket of warm water). Let each thin coat flash off naturally or gently (carefully) help it with a hot air gun on low heat - this is better and much faster than allowing it to tack up naturally. I ended up with about 6 to 8 coats on each component.
Let it dry naturally for a couple of days until the coating feels hard, reassemble and then give it some heat by going for a short ride around the block. Leave it again for a day or so and then just use it as normal.
I would guarantee that the people who say Hammerite smooth doesn't work or is 'not fit for purpose' have rushed the job and ballsed up the prep and application. The worst thing you can do is lather a couple of thick coats onto a poorly prepped surface.
As a side note, there's no way on earth I would get a component powder coated, bolt it straight back on and expect it to work. As people have found out, it's way too soft for a long time and either needs all the joint faces and bolt lands masking off before application or the coating machined off before refastening (or leaving to fully harden but that's really a bodge).