Denny,
LVLP vs HVLP --
This site says it\'s a toss up (3% over spray difference). Unless of course you do not have a big enough compressor for the needs of your HVLP gun.
Because I was a novice (and I still am) when I bought painting equipment (and I had a small compressor and a cheap moisture separator), I went with a two-stage turbine HVLP system (AccuSpray) with a non-bleed spray gun. I have no problems with moisture, any time of the year and at any level of relative humidity.
Here's a guess about having stainless parts - the HVLP guns are sold to be used with water-based paints (to meet local laws and to be used with latex house and woodworking paints). If you are washing equipment with water because you cannot use (or do not want to use) organic solvents for clean-up, you want non-rusting parts.
Tim