I have a 1974 Raleigh International frameset. I got it from a friend who put primer on it. I painted it with a brush. It doesn't look great, and the paint is chipping, but it seems suitable for the bike's purpose which is mostly as a commuter bike in the big bad city. I masked the chrome bits with liquid latex that I just brushed on. When I was done painting, the latex peeled off pretty easily.
I haven't done any lug lining or pinstriping or decals anything. Maybe I'd like to use a contrasting color on the head tube and make seat tube panels.