in Canada architecture paint market, water base paint is latex and most oil base paint is alykd. For most high gloss application, alykd is the best choice, for example, steel and wood substrate. For drywall, cement and concrete substrate, latex is suitable solution, even in kitchen and washroom. Remember, don't apply alykd paint on the top of poor quality latex surface. You can put latex on the top of alykd if the alykd surface is not high gloss. For clear wood paint, you can choose latex or alykd stain of varnish according to different situation. For floor and kitchen furniture, it's better to use oil base stain or varnish. For surface without too much abrasion, you can use water base satin or high gloss paint.