Gotta get my input here, since I used to do lacquer when I started out painting, and did so for about 15-20 years. It was THE paint to use on custom paint jobs back before 1985 or so. They used it on cars from the 30's I believe, all the way up to the 80's (GM cars, not Ford or Mopar. GM was in cahoots with Dupont, who invented lacquer) So it is a viable paint option. Not as tough, either in chemical or abrasion resistance, as urethanes, but usually CUSTOM paint jobs are pampered, so it shouldn't matter much.
Lacquer is a pretty translucent paint, and put on in thin coats. so you have to put a LOT of coats on for good coverage, and for extra material to sand and buff (and it does so MUCH easier than urethanes!) I'm talking at least 5-10 coats for coverage, and another 6-8 for cut and buff. Even more for full on clearcoated custom paints.
The thicker the lacquer, after a point, the more brittle it will be after it ages. It also shrinks a lot, even after a month or more. Many painters, for true perfection, would shoot 5-10 coats, wait a week or more, block it out, and shoot another 5-10, and continue for several sessions, to get perfect flatness.
It is much easier to paint, as it dries almost immediately, so you can correct runs, bugs or other flaws quickly, esp for backyard painters. It is not as poisonous as modern uro's and polyurethanes, though you still need to practice precautions, as the thinners put off VOC's that can cause nerve and kidney damage.
OK, now, Duplicolor paints I have NOT used. What I know is second hand, or from what I know about lacquers in general. They come pre-reduced. NOT a good thing. Thinner used to come in 3 or 4 different temperature ratings, just like modern paints. This is important,as lacquer air dries, so you really need to use the correct reducer, especially in very hot temps, or cool temps....even in humid conditions. Good painters never used to shoot it in humid conditions, as it would "Blush" with the moisture in the air, and it wouldn't come out. The fix was using a retarder to slow dry time, so the moist air could escape. You don't get any of these options with a pre-reduced paint!
One last note...you will not get any better look in a custom finish, than with lacquer. It's transparency, and depth of finish blows away modern BC/CC paints, even modern urethane candies. A Candy Lacquer job is most beautiful finish you can imagine.
If I was doing a 'high quality' candy lacquer job, I'd try to find some older House of Kolor or Metalflake (yes, they sold other paint other than flaked paints) paints and use that, with the correct thinners, and a high quality clear (back in the day R-M was a top notch, water clear, clear)
Barring that, buy lots of clear, and use HOK Candy Koncentrates to mix your own, as they are compatible with lacquer paint.