Great fun in upcyling old tackle especially when it works.
I too normally use stick on UV paper and nail polish. But have recently used water proof paints, glue and glitter I got at Hobby Lobby craft store. Good prices too.
Powder coating works and is more durable. But need to use a primer or base coat for color coat to stick. I apply slight heat from propane torch to the primer coat, then add color coat with more heat.
After any new colors are applied regardless of method, I always soak tackle in Lemon Joy to remove any repelling scents. Then when I use them, I clean again with LJ and will add a smell, ie sardine, tuna, etc just to make sure we are not repelling fish with odor.