Yes, I've used it.
It's great stuff! It actually works as advertised. You can simply brush off rusty areas, then paint with this stuff and it's sealed in a steal-like caccoon for life.
It's as hard as steal. I accidentally got some on a nut and couldn't remove it with a hammer and chisel!
It's not pretty, and not UV stable (it fades) so if you apply it to say a frame. You might want to top-coat it with the appropriate chassis black. To top coat it you've got to either top coat when it's still tacky, or use POR's special primer on top of it before top-coating.
I recommend you get some of their special solvent because I found it the only thing that would effectively remove it from your skin (and then only within the first hour). You can also get a good solvent for cleanup, but you'll want their special stuff for the 'real' cleanup tasks...meaning your skin, and if you want to reuse a brush you need to clean it in the good stuff too.
I applied it with a brush, it has nice flowability and brush strokes never remained. I just disposed of each brush upon completion. I used it for my frame, and suspension parts as well as the inside floorboards that wouldn't be seen.
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