The build deck, chimney and cap and all posts are plain stainless. The three pieces that make up the outside are black only on the outside even the threads are clean. The small 'well' in the outer cap where the drip tip goes is plain although the bit of the drip tip that goes into the well is black but the inside is plain metal. So it looks like they considered anywhere e-liquid or vapor would go and didn't coat there.
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Awesome. Thanks for clearing that up. Much appreciated.