Spanerman, the stands look great, for years in my sign business i made letters out of MEDEX, it is an external form of MDF, slightly thicker, totally waterproof and a lot tougher. The lettering is usually made to be finished in gold leaf, but with a paint finish the same applies. Thorough prep is important, oil based undercoats and lots of sanding in between, use the final oil based gloss colour for the last 3 or 4 coats and rub down with water and medium, then fine grade Wet or Dry before final glossing. If applying paints by brush then follow the rule of Less Is Best, too much paint will cause puddles in areas where joints are met. Another method i use is after i have made a church board out of oak then i give it to my local coach painter who sprays it with clear lacquer then bakes in his car oven, it gives a car finish like glass ready for the gold leaf lettering. You could get a price from someone like this to spray and bake your final colour, but speak to him before you start to paint as he cant spray car paint on top of oil-based colour, it would pickle.
Hope this helps