Hi Anto
used a cheapy 3hp 50l compressor ( it is plumbed into a 200l receiver for extra capacity), bought 3 mini hvlp spray guns again cheapy ones, 0.5, 0.8, 1.0 (mm) setups (10 to 15 squid each gun inc post) as i didn't have a clue what i'd need, tinterweb wasn't much help as everyone expects you to be spraying cars or other large items not a bunch of thin tubes
i used phosphoric acid on the frame first to etch and remove/kill any traces of rust
then a few coats of isopon zinc 182 primer followed up by cellulose paint
i read up a bit on paint and cellulose has a reputation for being easy to work with, so is good for beginners, and won't kill you overnight with the fumes, but it isn't the toughest paint, i figured i'd go with it as pretty much everyone recommends it for a novice,
I made a few clumsy mistakes, i'm not used to having the hose attached as only used rattle cans before so i clattered the seat tube with the hose and buggered it up
but rubbed it all down till it was super smooth touched in that area and you can't see a mark
oh and i grabbed a park tool isc 4 from sjs, well worth it
if your considering having a go it isn't going to save you money, as powder coat would be a lot cheaper and a lot more durable
if you want to have a go cos it's your baby and you want something to do over winter then go for it, best fun i have had it ages
I'll post some pics of the kit if your interested