I think BBQ paint would hold up to temps better than standard powder coating. Not sure about high-temp powder coating, but I've heard it is expensive. The BBQ paints take 1000-1200F I believe, my powder coating discolored a bit while I was testing a burner, and I'm working on some heat shields to protect it. My powder coat cured at 400F and got kind of a 'burny smell' when I blew past that. 
EDIT - Also, I didn't have any heat problems until I actually set the kettle on the burner. Those Banjos crank out a lot of heat, and instead of going straight up when the kettle was on, lots of hot air exhausted out the corners and got the stand *really* hot.
EDIT - Also, I didn't have any heat problems until I actually set the kettle on the burner. Those Banjos crank out a lot of heat, and instead of going straight up when the kettle was on, lots of hot air exhausted out the corners and got the stand *really* hot.