I was just talking to a friend of mine who is an excellent paint and body guy. I was asking him about painting a soda machine and he said he would have to see it first but he commented on how the prices of paint and materials has gone up. His comment was that he could probably get something cheaper but that is what you would be getting. He doesn't even like working with the cheaper paint products because generally his customer ends up dissatisfied with the results. Like anything in life, you get what you pay for and when restoring a soda/candy/cig machine the body and finish are going to be one of the most prominent features. May as well spend the money to do it right!
My two cents anyway. And yes, I am old enough to remember Earl Scheib!
Tim