Any thoughts as to why automotive radiators are pretty much all painted black? IMHO it's for corrosion protection but doesn't harm performance.
There is paint specifically for radiators.
I have tried before/after with radiator paint (but not PCs - race bike oil radiators). Results in that situation - zero difference in temps (same lap times so at least approx same heat input and airflow).
The powder coatings I've seen have been significantly thicker than paint (even thicker than catalitic paints like Imron). I'd expect it to be more insulative than paint and thus terrible as a radiator coating. I've never tried it, though...
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