Unclenick is correct, stainless steel can be blued or blacked without resorting to paint.
Paint looks good on a Lorcin or Jennings but not on a fine 1911.
As for the hardchrome over stainless steel, I did this on many of my hard use guns.
The hardchrome puts a hard skin on the gun ( somewhere around 72 on a rockwell C scale) that resist wear very well.
Also hardchrome on the frame rails seems to slick up the rails.
Regards
Bob Hunter
www.huntercustoms.com