I don't have the split pin on neither one of the bikes, just a drop of Loctite. Holds well.
You'll need something to protect the threads when powder coating, especially when the hub's going to be sandblasted. Best option would be either a couple of old lock rings, or if you want to re-use the old ones for the split pin slot, get a couple of new ones to keep the threads clear.
The coater can do the masking, but he'll also need to mask off the brake drum surface. Some powder will find it's way in though, so you'll need to get it off afterwards.
I got my hubs painted with an anti rust primer and a two pack end coat. If it's well done, it should resist as good as a powder coating.
Often powder coaters also do regular spraying, and if in business for a longer time the chance will be big that they have done motorcycle work in the past so they should be able to give reliable advise on what's best.