KTM-9 Water Based Lacquer

that's a hard one. most finishing products are around $10-$15, so you can try something and if you dont like it, no big deal. At $40 a quart you'd better like it.

Yeah, $40 is a little painful, but it says that you can do like 6 solid body guitars with a quart.  Maybe that's still bad...that's why I wanted to see anyone's thoughts.  Is it worth the dough?
I've not used it personally, but I do know several builders that use it on a regular basis.  Good reports from all.

I've heard poo-poohs over the eventual hardness of the surface, feeling a bit uncured even though it is. 

Then again, acetone based lacquer can have its issues too.

The water based product, really not a lacquer at all either.  By definition, lacquers must be able to reflow if the original solvent (water?) is applied.  I think once this stuff sets up, thats it.  While it can be reapplied over itself, I'd like to think of it as some sort of modified finish - not a true lacquer.