| In my basement, I sprayed with regular latex paint. My finish of choice is satin as it is scrubbable and has a light sheen to help reflect light.
Just make sure that all your mechanicals (ductwork, plumbing, wiring, etc.) are properly sealed.
Latex paint, is relatively benign and shouldn't (stress SHOULDN'T) interact with plumbing, wiring, etc.
Also, unless you take the time to wipe all the dust off of everything, be prepared for a lot of flaking.
Good Luck, Dan |