Just my opinion (and we all know what THEY'RE like...) but don't remove the old paint, just rough it up.
I had an outdrive professionally re-painted a few years back and learned a lot about the subject.
Unprotected aluminium will oxidize almost immediately and, unless properly primed, will create adhesion problems with the topcoat.
Here's a shot of the newly painted outdrive. They used a 2 part PPG paint similar to Imron.
I'd love to tell you the paint lasted a long time, but I blew up that drive 9 months later.

Lesson learned!