Duke, on the PITA areas where I really REALLY don’t want rust coming back, I’ve been doing both, treating the leftover rust with converter to neutralize it, scuffing and feather edging it, then brushing epoxy over top afterwards. The converter will stop the current oxidation process, but I don’t feel it will provide protection to anything new that’s trying to start. That’s what the epoxy will do, especially if it’s applied liberally, and there’s nowhere for new oxidation to get a foothold.
I would strongly advise against using POR15 underneath anything you plan on welding, once it melts with the heat, it runs into and contaminates your weld puddle. Ever tried to weld really rusty shitty metal with all the popping and farting? It’s 100 times worse, and I speak from experience. You’ll be chasing pinholes and poor penetration forever, trust me.
Epoxy on the other hand, tends to burn a little bit rather than melt, and it doesn’t seem to contaminate the weld nearly as bad.
Just my opinion of course, take it or leave it for what it is.