I'm thinking maybe I can sandblast, or 'wire wheel' down the paint and then sandblast the side rails and lockbar, and then repaint.

I have access to the equipment to prep the rails and lockbar.  Is this doable?  I am not sure what kind of paint they use on lockbars and such but I would imagine it's a powder coat?  

Can I get away with some type of paint and sealer or something from a place like Home Depot or do I need to get them powder coated?  And is it still cheaper if I got them powder coated than buying new?  I wouldn't think so, but what do I know?

See pic below of typical damage to my side rail.  The lockbar has this going on on the edges as well...

I wet-sand them with 600-grit, then 1200, then buff them with a special wheel. Even after the 600-grit sanding, they actually look decent.

Then what?  Do you repaint?  If so, with what?  I figure sweaty hands will wear paint off fairly fast unles I have them powder coated, or whatever they are already painted with???  I don't know much about this so any laymens terms you can break it down to would be great.

Example:  Take the little piece of metal thingy and wipe it with a rag, etc.   j/k

Ahh... just noticed... it is your TFTC... they are painted, not stainless steel.

It is a rough paint... powder coat. Either have then redone with new powdercoat (could be costly) or simply use a paint of your choice... but I would call up some paint shops. Best bet.