I had to start using the new water based paint this week and to be honest I found it ok to work with. My compressor is only a 50 litre (I really must invest in a bigger one) but coped fine with putting the paint on. You must use a gravity fed gun though as with a suction gun the paint is drying before it even makes it out of the gun. And I found letting it dry without heat takes for ever which could be a bit of a draw back. I sat the heater beside the spoiler I was painting and it dried in no time. But it dries tacky to the touch and I found to that the laquer sticks to it better and got a smooth finish straight out of the gun.
Only thoughts though are if you manage to smudge the paint or get dirt or a hair in it, it's not going to be the easiest of stuff to flatten back.