I need some info as well. I need to paint myself blue/purple, and am alergic to latex. what would be better greasepaint and setting powder? or water-based?

I really like Kryolan Aquacolors because they're water based and I can just hop in the shower and wash off when I'm done. I don't know if they're sold in kits, but I've bought palettes. Normally I just buy the individual colors I need.

krylons body paint works great.($10-12 per 2 oz) it is a water/glycern base with the aquacolor pigments. they sell a thinner and it works good through the air brush. they also sell cakes of the colors which you can get in a pallet (12 colors Pre picked $80) the colors last a long time and is eaisly touched up.

also for a more expensive version is the skin illustrator (sold on line and in LA make up supply shops like frends and namies)
these colors are alcohol soluable and will last a long time if they are cared for properly (mostly removing all the oils from the skin during prep) they rub off as the day goes on but these as a liquid (24-45/bottle either 1oz or 5 oz)(not sold in a kit) spray very nicely through an air bursh and they have metalic and irridecent colors. they also come in a pallet as a cake and last a while but the kits are between 75-95/pallet and include 8 colors. you can also refil the containers by adding the liquid and letting the alcohol evaporate. for these u must use 99% alcohol to activate the cakes and to remove the paint.

good luck