I have the Mini mite Q4 and it is great. I used to paint some latex and worked great.
I am using a new paint (I don't know if it is new or not), Advance from Benjamin Moore. This paint is waterborne alkyd paint, it cleans just with water and soap.
When I used latex and diluted the paint, the paint was kind of matte after spraying, it lost all the shine.
This new Advance even after diluted, it looks almost like oil paint. It looks great.