Product review (1 stars): Truthfully - NOT recommended
This seems like such a simple premise - but I was very disappointed with this product.  I figured that there must be SOMETHING on the market that allowed you to "paint" over those rusty spots on your old dishwasher racks, and I found out about this product here on Amazon.  I actually bought it from our local Home Depot.

A few of the "lowlights" of this product:

1. This material is highly toxic in it's liquid form, and it's vapors are harmful.  I suggest using it in winter - so you can do it outside and have it cure adequately.  Unfortunately, we did it in summer, and had to do it inside the house.

2. The small applicator brush that is attached to the inside of the cap is USELESS.  It is the softest-bristle brush they could possibly find - and, as such, it makes it almost completely useless when trying to accurately brush on liquid vinyl (which is what this product basically is) to a small metal prong.  The brush does not move the produce around - and instead sort of pushes it in various unacceptable directions.  You WILL need a more sturdy brush.

3. This product is a liquid - and prongs are vertical.  As such, gravity inevitably takes effect before the product has a chance to dry, and runs down the prong a ways.  This also makes the product thinner on the rust spot (which is typically on the head of the prong) than originally intended.

4. The consistency of the product (sort of a cross between congealed ketchup and snot) makes it VERY difficult to apply neatly.  Forget about being neat or it looking neat.

5. The product dries HARD, not RUBBERY.  As such, even though it may provide protection to your dishes from the rust spots on your prongs, it will itself scratch/mark other more delicate items such as wine glasses.  It leaves a powdery white compound on our glasses which has to be rubbed off with a cloth after cleaning.  Which also makes me wonder just how "carcinogenic" it actually is ("this product is known in the State of California to cause cancer and birth defects" etc. etc.).

6. One bottle is only enough to coat two racks twice (at least if your racks are like ours - and each and every prong is rusted on the tip).

7. In general, two to three coats of this product are required to effectively cover bad rust spots.  This will take you approximately two to three days - assuming you work full time like us.

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In short - do yourself a favor and buy the pre-formed prong covers (slip-ons) instead.  It might be more expensive - but it'll be worth it for the days of your lives that you save from this horrid, monotonous, tedious task - which ultimately leaves you with a dishwasher rack situation that is only approximately 2% better than the previous one.

After spending three days messing about with this product and our racks - we intend to just go out tomorrow and purchase a new dishwasher.

Not recommended.