Left to my own devices, I'd shoot with a gun (I thought it was weird that they had a spray booth but were using rattle cans). I'd also use activated urethane like I was doing on motorcycles.
I could see how the type of paint they were using would make a difference on an acoustic instrument, but on the solid bodies I want to build it's hard to think it would matter.
Side note: when I was a kid I refinished a cheap acoustic with hardware -store urethane and afterward it sounded even worse