Tom, I have a Fine Spray 2000, and it does a pretty good job. But you do have to thin the material quite a bit. I don't think you could spray latex with it. I didn't see anywhere that you can buy a larger nozzle for it. Note also on the site that it says its for varnishes, shellacs, oils and urethanes. I did use it to spray some Ultima Oxford waterborne lacquer, and it worked very well.

I bought mine at Lowes, and it was $97 on sale.

I'd worry about thinning latex that much, though; you would probably have to make a 50% water / latex mix to get it through the drip cup in the amount of time they recommend.