Product review (5 stars): Great hard-to-find product
This is much cheaper than replacing the two racks.

The hard work is on removing the rust out first.  I used a metal filing tool to strip out rust and any loose paint first.  Then applying the Uber Goop was easy.  It dries out super quick, so I had to do it quickly before the paint hardens inside the bottle and on the brush.

After 3 months of washing, I see no sign of the paint peeling off.  Best of all, the dishes don't feel gross when I eat off them anymore.