"lovely peeling latex paint" Bad prep work. Latex cab go over oil but you need very good prep work. A bonding primer can help, but only if the oil paint is CLEAN. TSP or spic-and-span clean. Oil over latex is a really bad idea. The oil film is much harder than a latex film, and it WILL crack and crackle. They way you obtain a crackle finish is by putting a harder finish over a softer one. It really matters what order the paints are applied. Luckily latex, (even acrylic) paints are softer than alkyd (oil) paints once cured.

Sorry! I should've stated that better! You can topcoat most primers in 2-3 hrs. Dont' leave a primer unpainted for more than a month. They get too dried-out and brittle. I should've said... >>> Once the primer and paint are applied, the adhesion process of all coats takes a while! You don't need to sand out ALL the gloss. * Just a moderate "dulling" of the existing sheen. * It's subjective...but I'd keep sanding if I could easily see a reflection. * I'd maybe drop down to 100-grit for the 1st pass. Then, a quick 2nd-pass with ~150-grit. * If you're near a C2 dealer, the C2-SAP (Sandable-Acrylic-Primer) is great for this kinda work. This is neat for REAL fussy applications. After priming, this primer sands nicely for extra-smooth topcoats. Faron

Save yourself some trouble, slow down and use the 123. Make sure you clean well and get rid of any loose debris. Prime followed by two finish coats. Sometimes slowing down ends up saving time when you don't have to go back and do it over again.

Think of it as a car. Sand to remove as much as possible, without penetrating beneath the metal, dust off, wipe with paint or lacquer thinner, prime, sand, prime, sand with a rust inhibiting primer, sand, remove dust and paint. Do the process in a single, consecutive time frame.