For eight years I was a manufacturing engineer working for KitchenAid responsible for their powder coating line on the Standmixers and blenders (25-30 colors). Due to the nature of the substrate (Zinc & Aluminum die casting) we had lots of issues with out-gasing, at times orange peel due to the Faraday cage areas and contamination due to dirt, powder seeds and lint. We used 3M's Finesse-it polishing system to remove the defects and never needed any topcoat unless we were spraying metallic powders or hit bare metal. We would start by sanding the defects with 1500-3000 grit pads in an orbital sander and then follow up with the 3M Finesse-it polishing compound and their buffing pads. This system was quite effective and if you have a chance go to your local appliance supplier and check out the finish on a KitchenAid Standmixer, I have never worked with a fussier assembly group and in the powder coating world appliance finishes are considered to be one most visually critical.
I considered powder coating the tank on my 1971 T-120 and our powder supplier offered to match the original Tiger Gold but my sheet metal was less than perfect and I was concerned about the results, I did however powdercoat my side covers and frame. After leaving KitchenAid I went to work for a die cast wheel manufacturer again on their powder line and they used regular bondo to repair blemishes along with the Finesse-it system. The use of bondo always concerned me because of the 400 F curing temperature. There is a high temperature filler material available that apparently uses aluminum as a filler (Labmetal?). Powder is great but pretreatment, masking and application is critical. It really takes an experienced coater and top-notch equipment to get results which come close to a good "wet spray" job.