I use a 2 pack paint (called 2 pack but was actually made up of 3 separate parts). Its as good or better than original paint, and no clear coat is needed.
I used this brand of paint, its very very good stuff (bit expensive and really strong fumes when using it)
www.baslac.com/au/homeI once pulled rail tape off a Naish board I bought, and accidently took off some paint with it. So I rubbed the rails down, colour matched and re-painted them. Once dry I wet rubbed them with superfine paper, then buffed them up. Now a couple of years later, they are still like new.
I get it from a car paint shop.
But if you want to go cheaper, then acrylic is ok, but it tends to chip off after a while. (Chips off easier than a 2 pack paint if its hit with a paddle ect)
Just depends how much cost/time you want to put into it.
Aaron