I ended up using unthinned black paint in the gun, set at 40psi with nozzle fan opened right out and paint needle screwed open too.  The gun then spits out a web as you move along which just lays on the surface, which I ended up sealing down by applying a couple of coats of clear.  I would suggest practicing on some white cardboard or plastic playing around with the gun before letting loose on your cabinet.

There is a little more info and some pics in this thread:
http://aussiepinball.com/index.php?topic=6311.0