The previous owner had done the plasti-dip at some point before I bought it - I've had it since August of 2008. It was actually plasti-dip over another paint on the chrome/plastic.
There were a couple of spots where it looks like a rock knocked the finish off down to the chrome. Not really a problem with the plasti-dip.
I did, however, make some of it loose a while back (maybe 8 months ago) when I was using the pressure-washer at the car wash. It seemed to bubble a little where either something hit it or there was an imperfection that caught my eye. So yes, the plasti dip came a little loose unfortunately; but I don't know 100% if the surface under it was nice and perfectly prepped for finish.
I think the plasti-dip had faded a little too...but it's been on there for years. And the nice thing, not too hard to peel off to redo.
The few bad spots is why I pulled it off to redo it. I can tell you, I really like the way the plasti-dip looks after drying. Nicely evened out and looks quite professional.