Well... to beat a dead horse. I used West System III epoxy water based paints, with a clear coat. Seemed to work pretty well. I know some people tried this and had problems with it curdling. I didn't have any issues with it... painted primer (white), followed by a white base coat with red and black stripes on my KR-2.
You can see some old photos of my project (I sold it) here: http://gallery.me.com/rossy65/100008
