G-Benz, you're right about thermal cycling being tough on paint. But I have had some luck in painting brake components. Whenever I do a brake job on one of my cars, I gritblast and paint the exposed nonworking metal surfaces of the caliper and rotor, simply using Rustoleum primer and paint. I just have this "thing" about exposed metal on my car. Surprisingly, the surfaces seem to hold up well over the years. For dave it may be worth a try.
95 E320 Cabriolet, 131K