The paint on mine has flaked, but I haven't seen rust yet.
If you stripped the remaining paint off well, I don't see why high temp paint wouldn't be alright. Rust is definitely a bad thing over time.
Primary: I'm moving - so empty, so empty...
Secondary: What sorcery is this?
Bottled: Jus' A Wee Bi' Heavy, Haughty Sahti Saison-Esque
Kegged: End of the World Stout, Winter is Coming Christmas Ale
Future: Alchemist Heady Topper Clone, Yooper's DFH 60 Minute Clone, Hefeweizen, Session Bitter