Simon,
I've done a little painting so I'll share what knowlege I have..
Modern 2 part paint systems share one great advantage with old style laquer jobs - After you apply the color coat which will look dull and you apply the clear coat , if you have slight imperfections in the clear they can possibly be wet sanded and new clear applied over the top - Old laquer jobs were famous for their deep look ( the old "13 coats of hand rubbed laquer" bit) because each coat was dried and sanded and more applied, and repeated until the surface was perfect, or at least very smooth, Then Polished with a buffer and compound to produce a finish which looked quite like a Revel Plastic Model - Nearly Flawlessand very deep.
Acrylic enamel is good paint and fairly easy to apply, AND you're right - it does look more like original paint used on LBCs because it looks more like solid color as opposed to color under a layer of glass like clear coat or laquer jobs, but you have to be careful of a couple of things:
Don't put on too thick a coat because enamel flows for quite a while - You could really lay it on the body, it looks great, you go home and sleep and the next morning there are "Lace Curtains" or sags/runs all in the finish because the paint has flowed via gravity all night. This is particularly dangerous when the weather is hot and humid - the paint takes longer to Tack dry therefore has a longer time to sag.
Second, If you get dirt in the finish, "Fisheye" which is usually from oil or silicone contamination on the prepped body, and looks like oily little craters in the paint, "orange peel" which usually occurs if you use too high an air pressure at the gun, resulting in more air, less paint, or any one of a number of surface imperfections you'll have a tough time sanding out sags, orange peel, fisheye, etc because enamel doesn't fully cure for a LONG time - It actually flows for MONTHS after the car is painted. It remains slightly soft ( Eventhough dry to the touch - much like panes of glass in a window) and as such is very hard to sand satisfactorily.
There are hardeners you can add to certain enamels which minimizes this effect but you still have to be careful not to let the paint run, etc beacause it is still suseptible to these effects while the hardener takes effect and the paint dryies, and because it'll still be a pain in the a** to rectify these errors.
Laquers and base coat/clear coat systems dry faster and harder and as such lend themselves to "fussy finishing" if you want to go that route.
A third category of paints to note are the catalized enamels such as Imron and Amerflint - If they still exist ( not sure - the EPA may have passed laws against them because of the health hazards the use of these paints pose) - This is a two part paint - the paint proper and a catalizing hardener which you add when thinning the paint to spray - It applies like regular enamel but has a limited "pot life" and when that time expires it VERY quickly gets harder than Chinese Arithmetic - Certainly can't leave it in the gun unless you want to chuck it when you're done.
These are very tough paints - Imron is used quite a bit on commercial aircraft - and have a good shine and last for a long time, but the downside is, you better do a good job the first time because it's hard as H*ll to sand the goofs out of this stuff. Equally important is the hardener used contains the ingredients found in Super Glue and is very nasty stuff indeed - Where you can get away with a good OSHA Approved respirator with the first two type paints you really need a good fresh air supply respirator for painting the cataized paints - they really are dangerous and the effects may not show themselves for a while so your really not aware of anything worse than your nose hair being stuck together big time.
So now that I have thouroughly confused you I'll close knowing that somebody in this forum most likely has more knowlege of what paint types were used and when ( My knowlege came from painting choppers and hippie vans in the 60's) and will no doubt be along shortly.
Hope this gives you some help!
Bob M.