Acrylics vs. Enamels:
Given the choice, budget, and TIME (time usually being the key factor), I prefer acrylics. They can be partially sanded and recovered if you get a run. Enamel doesn't sand well at all, so if you screw up, be prepared to sand back to nothing and go through a snotload of sandpaper in the process as enamel gums it all up in a hurry. That being said, Krylon is enamel and it's the fastest drying, easiest stuff to use on the planet, so if you're like me and push your finishing off to the last second, you're stuck with it a lot of the time.
Don't ever ever ever try to cover an enamel paint with an acrylic one. Ick.