Bossnass

My dad has two bikes, both harleys; one is polished and chrome. The scheme of his second is similar to what you're looking for.

He has line-xed the underside of the frame and the underside of his fenders, although not on the topside or the tank. He did the engine and exhaust in a ridiculously expensive thermal ceramic powdercoat that ended up with a "blue-grey metallic gunmetal" flat finish. He claims it is chip-proof and got it done because the gravel road he has to travel on did a number on his shiny bike. He also got his front forks 'blued', which looks pretty fricken awesome.

The Line-X / Rhino hide that I've had in various trucks really seems to hold the dust. If thats the look and performance you're looking for, I can't see it being a problem, but the texture always looks a little dirty/dusty to me. I'm all for rugged and low maintenance, but I also think you should be able to clean things up when you want to.

I've also been helping a buddy rebuild/off-roadisize an old fj40. For some reason or another, when he was getting the tub line-xed, he got various other pieces done as well including his brake drum covers. We didn't think much of it, until the first test drive, where it started to smell terrible and burn/melt. I don't think you're planning on putting it anywhere that gets hot, but keep it in mind.