water-based vs oil-based paint
am I too late to be in the discussion? Just to share my cents worth...
Besides color of paints, personally, I thought the type of paint used is also critical. You would really have to consider between water-based and oil-based paints, especially when its a DIY paint job.
Water-based paints (also often referred to as latex paints) is less prone to fading or yellowing than oil-based paint. It is dry to touch in minutes and ready for a second coat in about four hours. Oil-based paints are dry to the touch in six to eight hours but need twenty-four hours before re-coating. The longer the drying time the greater the chance of insects and dust penetrating the wet surface. That would be a really obvious disadvantage for oil based paint.
Water-based paint is also easier to apply as it flows off of the brush or roller. Oil-based paint is sticky and must be stretched out and worked into the surface.
The advantage of using oil-based paint over water-based is that oil-based paint requires less surface preparation and adheres to dirtier, shinier, or more weathered surfaces than water-based paint. It is more resistant to abrasion.
Hope this is helpful....