The metal medicine cabinet that I bought for thirty bucks stripped down nicely. Actually, it was a pain in the arse. I used heat to get the several layers of paint off, then cleaned it up with Rock Miracle. More cleaning was done with steel wool soaked in Mineral Spirits, which neutralizes the paint stripper. Finally, I sanded it all down and sealed it with an oil based polyurethane.
It still looks like an antique with all the dings and scratches but if I wanted new, I would have bought something at Restoration Hardware.