Cagey, just curious what brand of lacquer you use. I have used Behlens stringed instrument lacquer until I got tired of running our and having it buy it online or drive 40 miles to the closest place that stocks it. It goes on well but it brittle like the Gibson's of years past.
I recently switched to Watco brushing lacquer and mix 3:1 or 4:1 depending on weather. Seems to hold up well as it may have some extra additives.
I stay away from DEFT. I do not think that stuff every drys completely.
I was also thinking of trying the StewMac water based stuff but never gave it a shot (no pun intended). Lacquer is just so easy to spray, tint, and can be sprayed over automotive duplicolor with no reaction so solids are never a issue