Have a look on the Rust.co.uk site their epoxy paint is apparently very good though I have not used it, I have however used their Dinotrol and Mil Spec waxes and they are first rate products. I have used paint including POR15 which is very good but a bugger to get off your skin if it dries, so use gloves and a visor if you decide to use that product.
If I was doing this job I would not use silver paint , it just looks wrong, Black looks much better but Red us acceptable on the chassis but not under bonnet which on all Bristols was black ex factory. I would not rely just on a paint finish however , I don't like underseal but much prefer the Dinotrol waxes, these can be painted on with a brush but are better sprayed if you want to get total coverage, I forget the numbers but the lighter cavity wax is a good prep if surface rust is present followed by the heavier underbody wax, with a good application in wheel arches etc.
The underside really needs to be checked every year any trapped mud removed and wax re applied to any dry or exposed areas and under the wheel arches.
If you do decide to stick with silver then there are clear wax products available as well to give added protection to the chassis, Waxoil being one I can think of.
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