Gary,
I've got just the article for you:
http://www.houstonhobbies.com/tips/p...ying-latex.pdf
I'd say just about everyone in combat here in Toronto and London exclusively uses waterbourne paint on their coroplast planes.
I hate the term latex. Latex was the fist generation waterbourne stuff and is of very poor quality. You have to beware of paints that say acrylic latex as well. Although acrylic is what you want, there is a type of acrylic paint that uses vinyl in it. This also is of poor quality.
The stuff I use is Benjamin Moore "Collection" interior acrylic latex enamel:
http://www.benjaminmoore.com/bmpsweb...oductsspecs_ca
It contains no vinyl. Stay away from exterior blends as they contain additives to make it more flexible, which makes for a paint that stays tacky for weeks!
I have a good relationship with my Benjamin Moore dealer, so I buy a litre of their ultramatte for my warbirds, and have him mix 1/2 pint cans in various colours that I'll need. He charges me $.50 per can for his troubles.
Thin it down with about 10% windex... yes WINDEX, and this stuff flows out with a brush fantastically!. The ultramatte makes for invisible touch-ups too, something harder to achieve with the glossier varieties.
The biggest drawback of waterbourne paint is their adhesion properties. Over a good primer (almost of any kind, including your nitrate dope) they will have their best adhesion. Adhesion on waterbourne paints though, is generally mechanical and not chemical, so for things like coroplast, although it works well over Krylon primer, the "edges" present a problem, for example, the fwd edge of the fuselage where it meets the cowl. Because of the mechanical bond, over time, oil will wick into these edges between the primer and the paint and may lead to softening of the paint. This wont be much of a problem on wooden planes though.
Sorry to be so brief on the subject, but I'm in a bit of a rush
I hope this helps.