It's a sealing paint that's been talked about before, claimed to "self level" and go on smooth even with a brush, and is especially good for suspension and subframe parts. It's also a really good rust killer, although that wasn't really why I used it.
It went on really well and dried glossy - the pic is one coat with a brush, and that's dry. I did a second coat later. It's expensive - $30 for a tiny can - but it works really well and it spreads really far. I'm impressed! Good alternative to rattle can for prettying things up.