I like siphon guns because that's what I've always used. You need at least 20 feet between your compressor and a regulator/air filter. The air line has to slope back to the compressor so water drains that way. Air gets heated when compressed and concentrates water vapor which coalesces as it cools. That's why you need the 20 foot run.
How many PSI at what volume is your compressor rated? With an HVLP setup you need more volume than a siphon gun. 3hp minimum, 5hp (220 v) preferable.
Spraying nitro with a rattlecan vs compressor is like shooting water through a water pistol vs a firehose. I wouldn't switch to poly just yet.
This is 2 coats Mohawk's Piano Lacquer nitro on mahogany. 2 coats heavy body sealer, no paste filler. Minimal color sanding front and back buffed with Meguiar's Ultimate Compound.