Oh well late to this.
My old fixie, Stella, I used paint remover, then quick sand down and a thin layer of clear lacquer. Within a year rust was showing below and the lacquer cracked. Removed the lacquer and sprayed Hanmerite on.
That was in 2007 and in 2019 I donated the frame to John of the here forum. Only the places where paint had been damaged, like in the eyelets, were there a bit of rust to be seen. Else it looked good, that is if you like that grey metallic colour of Hanmerite