Powdercoat, no question. I've done two bikes and there are near infinite choices of colors. I chose black and white, boring.
If you need to touch it up, which you'll have to do a lot less than regular paint, use regular paint to touch it up.
Regular paint: Cheap but lots of prep to do it right and it isn't nearly as durable.
Powder: More money, less prep and more durable.
Bottom line: If you have the $, Powdercoat it!