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Gloss paint will provide better protection, the satin paint is diluted with more inert material. With this type of paint re-coating within in hour lets you build up a thick single film. You can bake the paint on to make it especially hard by putting it in the sun on the driveway.

Grey is a good choice because it will show cracks... It's the usual choice for tube frame race cars.

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as a EX BASF coating tech rep to auto manufacturers there are many myths about coatings .
1st is baking a coating does nothing but speed up a dry time and does nothing to speed cure times .
it in no way makes a coating harder or more durable .
to have a durable coating you will need to add a catalyst or hardener to it .
as for a coating being more durable because of it's gloss this is also not true !
adding a matting agent doesn't in any way take away from it's durability if it's a catalyzed or hardened product .
any known brand spray can paint is about the same they mostly are of a enamel based products and don't offed a way to catalyze or harden them .
this makes them all about the same for durability .
the problem with a coating that is not hardened / catalyzed is they are want is called reversible . this means they will turn back to a liquid state of a solvent gets on it .

you should always use a coating that takes a hardener !
most of the time the cost per OZ is about half them it is with spray cans even with the cost of the hardener and reducer added in of the total .
you only get at most 3OZ of color in a spray can the rest of the contents are propellant .

mil builds another myth with more is better .
most coating less will protect and last longer then many coats .
what makes a coating more prone to chipping is it's inability to flex when some hits it .
this is one reason why thicker paint will chip much easier it doesn't flex when hit it's has to many mils to flex .
when and if you read the directions for most coating you will see they say 2 to 3 coats . the mil build from that is only about 1.5 dry mils total .
so ditch the mind set of more is better with coatings ! it's not a penis .

if you can the best way to go is to use a spray gun with compressed air and a coating you can add a hardener to .
most of the times if your going to use a spray can you can also use a mini gun with a small compressor with better results .
it plus is not just a better looking finish but cost also .
you can buy a pint of single stage enamel with the hardener and reducer for less then 5 or 6 cans of a quality name brand of spray can paint and get more coverage area for the same or less cost.