Product review (5 stars): This stuff is great!
This is the second time I've used this product on our Maytag dishwasher.  With vinyl-coated steel racks it is inevitable that they will rust.  That means you have two options: wait until they disintegrate and buy new racks or a whole new dishwasher (both are $$$), or do something about it.  Two years ago I used this product and it worked well.  At that time I didn't go crazy doing prep and that's one reason why I had to revisit some of the same areas again this time.  In the current application, I spent a good amount of time (probably too much) prepping the racks.  I cut back the original coating to expose all the rust, sanded the rust off where I could, and used a rust inhibitor on the metal.  I let the racks thoroughly dry (24 hours) from the inhibitor so there was no moisture trapped.  Finally, I applied two-plus coats of this liquid vinyl to the affected areas working hard to make sure they were completely sealed and thick enough to protect.  I had the "caps" from one of this vendor's other kits left over from last time.  When appropriate I cut the end off the cap and slide it over the raw metal post to give some extra protection (then coat it with the liquid).  I purchased two bottles of the vinyl and had plenty to give a good coating to about 10 spots (some small some large).  I definitely recommend buying an extra bottle for the small incremental cost because you don't want to skimp on your coverage.  My experience is that this stuff also remains viable for a couple of years if you make sure the bottle is closed well and keep it at room temperature.  The two year old "left over" stuff I had was not as fluid as the new, but it does the job over time for any "touch ups".  Note: Make sure you wear gloves because this stuff sticks to your hands (and everything else) and work in a WELL VENTILATED AREA because of the fumes.  Have fun!