I painted two of my E30 in less than a year
Actualy, a friend did the painting, i did most of the hard work (sanding, masking etc
).
I used white acrylic paint (i dont know if this is the right term in english. Its only base, no lacquer). It is very forgiving and it covers all the tiny mistakes. I bought 3,5 liter can and its more than enough...there is stil at least 1 liter of paint left in there, for future repairs
Its also very cheap, i paid less than 100 euro for paint, thinner and everything else you need.
The first car was painted in a friends dirty garage. We didnt even bother to clean it and the door were open when we painted. It came out good enough even for a road car. We did the second car last weekend and i couldnt get a garage so we painted it outside. There are a few mistakes in the paint, but nothing serious. It will all be covered by dirt soon.
It takes at least a few days before color is really dry. If you start to put your car together the next day you will probably schratch the paint, as its still very soft.
And like i said, white rocks...if you paint it black or some other dark color every little mistake will be visible. Metallic is even worse.
The main part in painting is preparation tho. If you take your time when sanding it will probably look good in the end. If you do it in a rush your car will look like a crap no matter where you spray it.
Here are some pics of my projects
4 door E30 driftcar with M50 and many other mods:
http://ikst.moj-album.com/album/1081328/
My "new" 325 mtech 1 road car (still in progress):
http://ikst.moj-album.com/album/3727479/