Just as another data point for the PPG Omni AE (acrylic enamel) and Omni AU (Acrylic urethane)
I use either devcon 2-ton epoxy (30 minute hobby epoxy) or Minwax sanding sealer on the raw wood then sand to a 320 grit finish. Clean the boat wood with mineral spirits just before spraying. Spray a light mist coat that barely tints the wood. I also spray a similar coat on a scrap piece. Let that sit for about 15 minutes until the scrap piece starts getting sticky then spray a slightly heavier coat on the boat then the scrap piece, then 15 minutes after that spray until the finish is glossy wet. not too much or it will run.
With my driving skills I don't bother with a clear coat. I just buff the boat out with Meguiers cleaner wax (top only) and sand the sponson bottoms with 220 and its ready to rumble and looks good.
I've never had trouble with peeling at the radiobox anywhere else or fuel damage with this method.
I am by no streatch of imigination a skilled painter and needed something that was simple with the least oppertunity for me to mess it up with the spray gun.
Total costs for paint was $55 for 2 colors of paint (metallic plum and flame yellow), reducer and hardner. This was enough to paint about 10 boats.