Wondering if you would give us an update on the sprayers? I have never sprayed lacquer, but I have wanted to do exactly what you are doing. Not for ebay, just for friends. I got a Woodmaster 718. Do you sand your molding? I still have a very light amount of chatter even after doing a lot of mods using a single knife and counterweights in the planer head. (hinge on motor, beefed up extension wings, powertwist belt, and nice bedboard)
I would love to get that thing tuned up so I don't have to sand it. I've been told it can be done. I just need to do a little more. I haven't ran much.
I picked up a hvlp system from harbor freight -- not the gun, the entire system. It works great for the money, but I'll probably want to be upgrading later on...
I have sprayed a lot of hydrocote waterbased finish, and while I'm happy with the results, I don't like the fact that the drying time is a lot longer than regular lacquer. I also don't like having to sand between coats.
For moulding, don't go with a glossy finish -- I chose satin, and even still, I wish I had selected dull satin...
Sanding moulding: this is one thing that I really like to avoid. I'd be interested in hearing more of what you have done as well as what you think has helped you the most. Woodmaster does sell a drum sander to buy, although I haven't tried it yet. I try to run the mouldings slow enough so that I don't have to sand, but I have had problems with tearout on certain kinds of wood. All in all, having run about 1200 ft. most of it is defect free.
I don't have to sand it all, but on one profile that I made, I did notice that there is some minor fuzz that needs to be sanded out. I use 150 grit to do this, and sometimes a scotchbrite pad. It is a tedious job, so I'm glad I don't have to do it on every piece.
Before I finish, I seal with something like de-waxed shellac to minimize grain raising.