Stripping paint and refinishing/repainting/powdercoating a bike

Turd Fergurson here's the situation......im broke ha ha ha

i just managed to get a reynolds 531 for 30squidaroons, good price and good condition....
the question i pose to forum types is:

have eny of you attempted/ tried spraying a frame youself?

how it turn out?

is it worth it?(well if it comes out well thn corse it is save 40squid)

and, any tips?

cheers Aidan

Sprayed a bike with rattlecan black the other, the aim being to make it look baaaaaad. So that it wouldn't get nicked. Bad news was, it came out looking really good. So I failed. I though about gaffer taping it to make it look bad but I can't bring myself to! It looks really good now....