Like otheres mentioned, I use testors paints. I use ProFinish oil based poly to seal my shafts after staining, then crest with testors. I let it dry at least a day, then I dip the shaft about 1/2" past the cresting in water based poly, hang it up and dry overnight. When dry, you cannot see the overlap spot of the water-poly. Then I apply either one more coat of poly using the ProFin, or I use gasket laquer. I could just leave the fletch end fishished with the last short dip of water poly, but I have found that fletch tape slips a little on water poly. So I use an oil poly for my final coat.
I like the tape, its very durable, and much faster tofletch a dozen arrows.