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@Rik_Van_Looy
Absolutely nothing wrong with Armourtex.
Neither is there anything wrong with powder coating - it's a good durable finish.
The main issues when dealing with classic bikes are...
1) it spoils the appearance of the lugwork - see pic below
2) it's not period correct - the bike will always look powdercoated and therefore not vintage!
3) it's very difficult to strip back if you decide it's unsympathetic to the frame/build
4) it can be difficult to apply certain types of decals to.