I actually really like the Black HFPC with the shake and bake method. What I have found is that, while it doesn't cover very well on the first coat, multiple coats seem to exponentially stick better. I have done as many as 4 coats for giggles. It sounds ridiculous but, like many things we do, it isn't always about saving money or time, it is about the love of the project.
Recently, I have discovered that either letting my bullets sit in the sun for about 30 minutes or pre-heating them for a few minutes before tumbling them helps them coat great on the first try. You don't want them hot or the PC just melts in a big glob all over them.