Charles - I have done this several times now. I use good old Rustoleum enamel and mix gloss and flat to get the sheen I want. They always seem to come out a little glossier when dipped. I agree that with the large surface area of a 5 gallon bucket you probably did not have enough paint depth using only a quart. Remember you will loose paint as your part goes through and it adheres to the part, and a control arm takes quite a bit of paint. You have to think about what you are doing and move the part a little sometimes to avoid an air pocket that would leave part of it unpainted. I also have to thin the paint (with quality automotive thinner) to get it to drip off.
On some parts with complicated shape, I have sprayed a coat of paint on first, then dipped, just to be sure that some little bubble doesn't leave an unpainted "spot" that would require me to start over.