Lacquer used to be standard home repaint fare. Then Kalifornia banned its sale (as well as enamels) as part of the smog control master plan. I liked lacquer. You could paint things in the driveway without incorporating the local bug population. And, any overspray was dust by the time it fell to the ground. I did find lacquer lacking in durability, though. Particularly, sunlight caused it to deteriorate much faster than enamels and polyurethanes. The worst was when I painted the trim on my airplane. Looked gorgeous for a year, then it dulled, chalked and was pretty nasty the following year. You could wipe your hand on it and it would come off and leave your hand blue with paint dust.
I lacquerd the front fork lowers clear. Three years later I had people give me compliments that the yellow forks matched the gold trim in my fairing. Er, thanks, but it's supposed to look like shiny aluminum. Now, ten years later the dull yellow lacquer is mottled with some spots on the forks. Much of it has sublimated away. Kind of like a yellow and aluminum camoflage pattern that doesn't fit in with any envirnment.
I think if you want a paint job that lasts in the elements, go with enamels or polyurethanes. Pity they cost way more in materials, safety equipment, and facilities.
Cheers,