Paint wise I use pretty much whatever I can get and its more a case of colour choice than the make of the paint. I find you do get what you pay for but also the prep and the quality of the clear coat I put over the top makes the most difference when it comes to durability so I always put a lot of effort in to the prep and use a 2K clearcoat.
And yes decent masking tape and a scalpel is the answer with the intricate lugs and you always use a sharp blade you can deal with some very intricate lugs. Oh and metallic sharpie's make great lug liners.
