Sprayguns

Done the search but I can't find the answer. HVLP is a complete turbine system of spraying without the use of a compressor. Conversion guns are a low pressure spray gun designed to stop excess paint loss through it bouncing off the surface being painted. Have I got all that right?

So now I want to buy a gun, not a $35 Chinese POS but a middling to good gun. Do the conversion guns give a better result than the HVLP? I am aware that conversion guns need a lot of air and that is not a problem as I can supply 25 CFM continuously. So do I buy a HVLP system or a conversion gun and if the latter what brand and type. I will be spraying everything from clear finishes to paint, can one gun do all? Do conversion guns need a minimum size hose to supply the volume of air required. In the old days you didn't have a choice and life was simple.