The text on the page: http://www.westcoastpiet.com/images/Paint%20Piet/LatexPaintTest.pdf
is very interesting. Just forget about the reference links at the bottom... they're all 404's (404 = Page not found or no longer exists)
I am almost ready to cover my broomstick aircraft with some bedsheets.
and I will definitely be using Latex Paint to color it. For me it is a matter of economics. A Gal of Latex can be had for under $30.00.
The aircraft paints cost at least 8 times that. This, not counting the reducers, and any other proprietary ingredients, that can bring costs to over 450 dollars. Even if I only get 5 years protection from UV, the cost, for me, to recover and re-paint will be far less. YMMV. I've painted a number of aircraft professionally, and have used most of the "typed" brands.
I do have a favorite, it begins with an "S", but as I said for me, it's economics.