Oddly enough, I'd only powder coat a show bike. Although it's true that it's a better coating and stronger, if you actually ride a LOT - yer paint is gonna get trashed no matter what it is or how it's applied.
If you have easy & cheap access to powder coating - sweet, but if ya want a bike lookin' beautiful all
the time you've two choices... never use it or repaint every spring (or as a winter proj if ya stop riding). With that in mind I rattlecan 'cause it's easy 'nuff & cheap to do at home.
I've a powder coated bike and a rattle can job - TBH as much as I abus... *cough* ride 'em - the paint is thrashed 'bout the same
BTW, wax does help slow the damage - it's a protective coat that does more than make it shiny (reduces UV and helps deflect scratches & dirt buildup), BUT it makes it a lil more of a pain to repaint as ya need to decontaminate... *shrug* yer call