Make Any Wall Your Whiteboard!

I have been thinking about making a magnetic whiteboard on one of the walls in my kid's room for a long time.  After reading reviews of other people who have done this I think I am going to go with the following products. 
First I will apply the magnetic primer:

Then I will apply the whiteboard paint:

I can't wait to try it out and use all the magnetic letters I have from my classroom to help LoLo work on creating CVC words.  I will also take photos of family members and glue them on to magnetic sheets you can buy at Walmart. Then you just cut around the person (or object) and have a personalized magnet to play with. 

I will update when I get a chance to put it up.

Have other suggestions?
Want to try your own?
Have you done this before; how did it work out?
Leave me a comment and let me know.