Well for decorating I think water based is the bee's knees. Goes on a lot easier, dries more quickly, cleaning brushes is a doddle and it doesn't go yellow. As a bonus it isn't polluting the atmosphere. I will admit the finish isn't quite as good, but it's only interior decorating, it's not important, not like a loco or stationary engine. Keeps SWMBO happy, so job done. For outside I use Sadolin Supadec, same advantages and it doesn't crack or flake off. OK it isn't very glossy, but who cares.
I did once use Dulux Weathershield on an internal window frame, I'd run out of the normal stuff and the shops were shut. It stank for days, never again