Latex Paint?

I asked a question about latex in another forum and never got a response. My feeling is it would need to be too diluted to spray and thus wouldn't adhere well. 

I wouldn't try that. Latex paint is for walls, modeling paint is for models. I'd be concerned about its durability and resistance to weathering techniques.

I've tested latex. It's actually not bad stuff. It adhered very well for me. (In fact, they use Behr latex for painting replica WWI airplanes.) Remember, it's designed to go on walls which are used and abused daily. Models are pampered and protected. However, I'd be wary. If your application isn't perfect, it won't level well. I haven't tried spraying it, but I guess it would apply fairly well. If anything, you can flat-coat it to make sure future thinners and such don't destroy your finish.

I'd be very hesitant to spray it through my airbrush personally. The pigment particle size is larger in commercial paints versus model specific paints and that could cause an issue in terms of thinning and application. As Boba Fett mentions, all the variables have to be just so for it to work and tolerance levels are tight. If you give it a try, be sure to post up your results!

Many thanks for your comments.   I have an old Badger 150 doing nothing at the moment so I will let you know what happens.

Thanks again.