In my very limited experience with a $39 HarborFreight #43430 HVLP Conversion gun (no longer for sale BTW) I have found that I tend to want to spray coats whch are too light. This causes a bumpy, uneven surface and inconsistent droplet size for me. I don't know what makes a good gun (other than spending more than $39:gar-Bi) but you have to match gun, needle/nozzle size, air pressure, air volume, fluid volume, sweep speed, fan size, product viscosity, temperature, humidity and how you hold your mouth for the best finish. The gun is just one of a bunch of variables.
On my kitchen cabinet refurb I sprayed white pigmented ML Campbell Resistant (Catalyzed Alkyd Varnish) thinned ~10% with lacquer thinner. I increased the gun fluid control to the point of runs for my sweep speed/fan size on a piece of butcher paper and then backed off just to the point of no runs. It seemed like too much at first but it layed down and was smooth when it dried.
If I had to do it over I would probably go with one of the all in one turbo units (Turbinaire, Accuspray, Fuji). Having a large compressor is nice but the only thing I really need it for is spraying and I don't spray enough to justify the floor space it occupies. I have a small compressor for nail guns, tires, footballs, etc.
Good luck with your decision! HVLP really saves in the long run by not wasting product to overspray.
Mark