If you are worried about water, run a coiled air hose out of the compressor through a bucket of cold water, then to a centrifugal water separator, then through a hose to your gun, which should have a secondary regulator then a disposable dessicant filter. The cold water really helps get the water out of the air, and it will collect in your separator. This will make the air plenty dry for paint. Remove all quick disconnects and use only threaded connections for better air flow to the gun. Always put the filter after the last regulator because the pressure drop lowers the temperature and the water condenses out of the air.

I recommend a base/clear system to anybody who is painting, since it is so much more forgiving to paint. The base coat can have the imperfections sanded out and the clear really flows out well, and is easy to level because it doesn't change the color if you have a run.

Paint & Body Shop moderator
A lone amateur built the Ark. A large group of professionals built the Titanic.