For my money you can't go past a freshly blasted finish (fine aluminium oxide or garnet gives the best key, but as this not always affordable or available prepping up with a good rub over with wet and dry will do.
Fully dry the pipe, wipe all over with prepsol and then give two to three LIGHT coats of the high temp paint of your choosing (I'm not getting into the paint debate other than to say I prefer VHT Expansion Chamber Paint) giving plenty of drying time between each coat.
Once you have waited the manufactures prescribed time for total drying take the whole deal outside and hang somewhere secure. Stick your favourite paint stripping gun up the spout and heat cure on the lowest setting first and then if you are brave crank it up a notch which will eventually result in one very tough and even finish. Should the high setting cause blistering it is a simple matter to let cool and touch up although with VHT this has never happened to us. A word of warning - don't use your missus' hairdryer for this one as you need extra heat and besides she'll kill ya!
See you at the back of the pack in '08