I think a lot depends on what results you want and the condition of your calipers. Paramount for any durability is prep. Personally, I would only do it "right" if you are going to do it at all. Otherwise, I think it looks half-baked poseurish, and now that you have painted calipers, it is one more thing to clean/maintain.
With that said, if you have steel calipers, I would probably remove them and have them sand-blasted. Aluminum ones you could probably use wire brush/metal polish/etc. to prep and finish with something like brake cleaner which does not leave residue.
I have a Porsche Boxster, and the factory Porsche/Brembo calipers are painted and clear-coated. It is pretty easy to get cracks in the clear and any dirt/moisture will get under the paint and it will peel over time.
I have used the G2 epoxy which is pretty good. It gives shiny results, but you cannot underestimate the importance of cleaning the calipers. Brakes are sort of an inherently nasty/filthy/harsh environment, and any grime will lead to fish eyes and other defects in the finish.
I have also used the DupliColor paint, but it does not look anywhere as good as the G2. Because it is not a 2-part epoxy, you can however use it as a touch-up. I also use it to paint brake pad backing plates.
I would say the G2 epoxy is more durable than painted/cleared calipers, but doesn't look as good. In the end, the best and most durable finish is powder coating. Considering the immense amount of prep required if you want nice and durable results, I would send them out for power coating which includes stripping them clean. This is the most expensive route, however, but it will last, and the powder coating is highly resistant to chemicals/heat/etc. There are low-temp powder coating processes out there (so that you don't have to do a complete caliper rebuild which may not be a bad idea depending on how well your brakes have been maintained) and glossy finishes available. The look will not be as good as a factory paint/clear, but close and much more durable.
Also, depending on your brakes and if you do any tracking of your car, if your calipers are actually subject to any serious heat, I would forget painting them at all. Almost everything I have seen will turn brown if they get a lot of heat in them, for example, red will turn red-brownish in color.