On a control panel indoors it will "last a lifetime". Geez, don't take it literally. Yes, I have some powder coated torches outside that show some rust. If hes restoring it, the missile command cpo does not cover the whole panel I believe, so yes he will need some sort of finish. The point is the powder coat is 10x more durable and won't have that bare metal showing along the edge as fast that is all too common on the classic metal panels. Enamel will do fine. Look for a thread on restoring coin doors, you will get some good advice on "baking" on the finish in a conventional oven.
If you do go with the powdercoat you won't regret it. A few extra dollars well spent IMO. I speak from experience, I have used both enamel paint and powdercoat on metal panels.