I painted my frame and all the components with some epoxy OEM chassis black "original" from the eastwoodco.
www.eastwoodco.com I do beleive, its about $10 a can, but they have a kit that comes with 4 cans and some rust encapsulator. heres a pic:
IMO, yer doing the right thing. I had mine glass bead blasted and am sandblasting all the small parts myself, bead blasting the frame is worht every penny.
heres this frame before:
Good luck! if you're feelin frisky, you can also look into powder coating, but, before you do that, make SURE you got ALL the rust in the frame, cos if you find something, you can't just patch it with some spray. we found after our frame was blasted (as you can see on my site in the link) that several areas needed tending to after we had blasted and in some cases began to paint.
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Projects
Belair '71 C10 LWB to SWB conversion:
C10 project page
65Chevelle pics coming soon