I would say that getting one of the generic CPO's with the vinyl on them would be one of your best choices. Those things are TOUGH, and by no means will they wear out. Just think, the machine will not be getting used 24/7, nor will it be in an arcade environment, so it should work out no problem.
In my CP, I put formica over it, which feels great but the black attracts a LOT of fingerprints. I am looking to get it replaced with a CPO. Laminate is very easy to work with given you have a laminate flush trim router bit (I think that is what it is called, guys help here.).
As for the paint, you will really have to test here. I am unsure of what kind of paint will feel nice to the touch and still be durable. Maybe someone else can help out here.
IMHO I would go with the CPO, as they look very professional and feel great. After experimenting with the laminate that gets fingerprints, I almost wish I would have never gone with that. Show us some pics of your progress and good luck!