James, depending on what's there now and what you're going to use will make the difference too. On the Ludwig's, I use lacquer, since that is what was used originally. I got much better results when I stripped all the old paint/lacquer off, and needed to use a lot less lacquer. The Ace Hardware black lacquer works great.
Here are the refinished hoops I'm referencing:
[IMG]http://hphotos-snc1.fbcdn.net/hs212.snc1/7929_1219350368504_1371250302_624023_8282380_n.jpg[/IMG]
I am new to restoration and am about to start work on my first real project. Regarding the hoops: Is it necessary to strip ALL of the old paint off the entire hoop before repainting or do I just sand down areas that need to be touched up and repaint those (and hope that my new black paint is a close match to the old paint remaining on the hoop)? Thanks for any help!James