I'll have to say this certainly is tempting, but the question that nags away at me while looking at the photographs and reading the testimonials is one asked much further up in the thread. Will the rustoleum be as durable as the tremclad? How many of you have had the rustoleum job on your cars for more than six months?
The method itself is definitely not in question, being time tested from the very beginning (I can do an unbelievable job of wetsanding a old paint that looks chalky, as long as no mechanical damage has occured and the brush/rub/repeat method is as old as paint. Think centuries old chinese lacquer here.)
It's the paint. Really, how many of us have used rustoleum on a variety of metals, just to have it rub off, or peel in six months to a year (With the possible exception of the hammered finish, I've found it to be reasonably durable, though untested in sunlight for long periods)? So this makes me rather skeptical of the operation, as available to those of us south of the Canadian border. Again, I don't doubt at all that an amazingly good shine can be brought forth from even the lowliest of materials. I'm merely wondering if anyone has had one last?
It's not as if there isn't purpose made automotive paint in a comparable price range (and from many other sources). I LOVE a bargain, hell I can't afford not to. My Oldsmobile's engine has been held together with JB and copper pipe for over a year, as one example. While I'm as willing as then next guy to experiment (well, probably more so) the sheer number of people that post while/before attempting this with enthusiasm seems to dwarf those who have had this in real world conditions and they don't seem to be chiming in very much (the deleted posts?).

I would love to paint my car for 50$, I just don't trust rustoleum to hold up to any abuse whatsoever (much like lacquer, which is meant for garage queens and touch ups).