Anyone tried the Upol Raptor? It's a two Pack product normally used in the trays of utes. Was talking to the local paint guy and he said it was tough as nails and ideal for painting the underneath. Far superior to the water based type stone guards he thought. The finish is like a coarse sandpaper and comes in black or can be tinted to any colour. Wasn't that cheap, would cost around $200 to do the whole underside.
I sprayed the tray of my ute using this and it is very hard wearing. May use it for the wheel arches but not the whole of the underbody