My Drums are flaking apart real bad, they're just covered in rust. I might have to sand them down and get some Hi-Temp paint for them.
I spray-painted my Exhaust Manifolds of my other car with a Aluminum Hi-Temp paint and they're holding up very well. It's been about a year and a half since I did them too. However, I don't know if you need Hi-Temp paint for the brakes, but if you do, it holds up really great!
