I use Hammerite alot, it takes some practice to get a really good finish, but the stuff is good. I've also had good luck with there aluminum, chrome and stainless (non ferrous) primer on bare steel and there flat water based coatings. The flat coatings are easier to touch up if need be and easier to apply. My tow hooks were painted five years ago, Hammerite primer and flat black water based paint, they still look good.
If you brush it on, don't over brush it, try to lay it on in one smooth coat (medium thick), don't overwork it. It takes some pratice to get a nice thick coat that doesn't run or sag, technique is required. The brush marks will largely disappear as it dries. I've had good results with natural fiber brushes, hair is too soft and many synthetics are too hard.
The spray works well, but doesn't leave that thick typical tried and proved Hammerite coating a brush does.
It can take awhile for it to fully cure, like weeks.
I've also had good luck with Rustolium rusty metal primer (let it dry for a few days) and Rustolium outdoor grill spray paint. It's kind of a half mat or semi gloss that looks good and is surely durable. I did the grill on my 88 about 7 years ago, still looks good. The rusty metal primer is hard to sand, but sticks really well.