Frame derusting and painting

[289ACE]

I recent procured another basket case AC Ace that was powered by a 289 and has some heavy rust on the frame and suspension. I am in the process of planning the rebuild for it and have a few questions about the rust removal and frame painting.

Rust Removal or stabilization-
From what I have read, I can either remove the rust via blasting or stabilize what is there. I am leaning towards blasting, (if it is allowed in the republic of Kalifornia) but does anyone have any POR15 (or Eastwood encapsulator) experience that shows how well it has held up on applications for over 12years? Maybe doing both is the best way to go? Finally, does anyone know of any blasing operations in Southern Cal, preferably Ventura area?

Paint vs powder coat-
I am leaning towards powder coating if available locally, but if I encapsulate, is it compatible with powdercoating? Also, if I blast only and use etching primer, are there any issues with powder coating? I sounds like the eastwood rust encapsulator is not supposed to be used over etching primer so I probably need to decide what my complete path is before starting
TIA,
Jay