Ok, I went to a paint shop yesterday and here is what they told me.

1) Fix parking lot dings with small hammers and as little bondo as possible.
2) Sand entire car with 180 grit sandpaper and DA sander.
3) Sand entire car with 320 grit sandpaper and DA sander.
4) Primer car using Nason 421-20 + activator.
5) Block sand entire car using 320 grit sandpaper.
5) Second coat of primer.
6) Wet sand entire car (the shop owner didn't tell me what grit sandpaper to use).
7) Paint car with single-stage Nason acrylic enamel.

I asked the owner if he suggested multi-stage paint. He told me that a single stage would do just fine since I want to do it economically. The owner also told me that he has a number of HVLP guns for sale that run about $100-$120 or as low as $50. The brand he carries is Vaper (if that means anything to you guys).

FWIW, I think I am going to finish the bondo work this weekend so I can buy the 180 and 320 grit next week.

I have two friends at work that have used this shop before. One guy has a 65 Chevy Impala and the other guy has a 69 Chevy pick-up. Both vehicles look pretty darn good (especially the pick-up). Anyways, I will keep you guys posted. Thanks for the input so far.