Drying times of linseed paint are as I understand long, esp in winter, I dont have the time.Interestingly you've discounted linseed paint which is the darling of the sash window brigade. Unfortunately no use in the coming months.
I feel if your definitely going to spray water based you need an air assisted airless set up. Anything else won't cut it as the temperature drops the viscosity increases making hvlp pretty useless. Even 5 stage.
Plan is to use an airless set up, not sure if that presents the same issues regarding temp/viscosity.