i've used POR15. you have to do proper prep, and then it works great. usually this is what i do... media blast the gas tank, outside *and* inside. it's important that you media blast the inside, as that is the best prep for the Por15. after blasting, all the holes will show easily. TIG weld the tank best you can to fill the holes, welding up all the issues you can. i've had tanks where i've needed to install new bottoms because they are so rusty. but usually i can Tig weld holes (i use stainless steel rod.)
after the tank is welded, paint it. personally i powder coat. (there's some tricks to doing this if it's a soldered tank, which most are.) after the tank is painted, put a stopper in the gas bung. pore the entire 1 pint can of Por15 into the tank. swish it around, covering the entire inside (including the top inside of the tank.) then pore out the excess into the Por15 can (you can re-use it.) there will be quite a bit of excess, try and get it out. because the more you leave in the tank, the longer it will take to dry.
i let the tank dry a long time. sometimes a month. but usually a week is Ok. after dry remove the bung plug. i re-tap the bung hole because the threads have Por15 in them. then mount and use the tank. use ethanol-free gas! any regular gas with ethanol implies water, which is a bad situation for your tank. so don't use regular pump gas.
i have many tanks doing this with no issues. and they are going on years without problems. it's all about the prep. you *must* media blast the inside of the tank if you want the Por15 to last. that is really the only way to get the rust out of the inside of the tank. think of Por15 as paint (really that's all it is.) you don't paint a rusty car and think that paint will last. you have to get the rust off before painting. Also i use steel grit in my media blaster. it's really the only way to do this.