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I haven't done it personally, but a friend of mine did. It looked like crap, and even after three coats, it was still thinner than a good spray on job.
You get what you pay for, those do it yourself kits crank and peel and as Bear River says, they look like crap. Man up and spend the bucks to do it right, you'll be glad you did in the long run
The plastic liner I have from Pep Boys was around $150. I have carried literally tons of rocks for a stone wall on my property and it's scarred and scratched but not a single hole through it. The truck's 9 years old and the liner may outlast it. If you're going to keep the truck a while and actually haul course and heavy loads, spring for the drop-in plastic now. Don't wait.
I would avoid the drop in bedliner. I understand they are better than they used to be, but in most cases, a drop in decreases the resale value of the truck because it actually damaged the truck. Rubs right through the paint and traps water in there.