Automotive paint is a three step process (primer, base coat, clear coat) and more labor intensive but you have almost have an infant possibility of paint color options.
Powder-coating is a not as labor intensive and has less steps. It does not require a primer and the clear coat is optional. The color options are kind of limited but its getting better. You can get a frame & fork powder-coated for around $80
Clear coating over decals is tricky. If you put the clear coat on to heavy it can dry and shrink the decal. It has to be done in several very very light coats.