If you use the 1200 degree paint on the manifold, it's not going to hold up very long. It will be fine for the valve cover. I use 1500 degree paint on my headers and it holds up pretty well. Remember your manifold is the hottest external part of your motor. Even with the 1500 degree paint I have to repaint about every 5000 miles or so, depending on the weather conditions.
And please, do not take the advice of spraying the paint in a cup and then brushing it on. Sparay paint is designed to be sprayed. When you spray it in a cup, you're losing some of the polymers that bond the paint. (Ask any professional automotive painter, which is what I did) It will take some extra time to amsk everything off, but the lasting effect of the paint will be well worth the effort. The same holds true for caliper paint. I painted my calipers four months ago and when I clean them they still look as good as the day I painted them.
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