naptha is certiantly much faster than mineral spirits. always make sur ethe reducer and hardner are suitable for your paint.
( for instance, carquest sells a quick cure hardner that is faster than the valspar hardner, but both work ).
technically hardend paint can last for 24 hours in a sealed container. 9 your gun has a vent ).
but if you do store it that long, or longer than an hour, when i poured it into the gun, i'd pour thru a paint strainer as sometimes it can skin, and also recheck reducer levels / viscosity.
And no. exact to the millilitre measurements are not needed.
I use the calibrated glug-glug method on reducer and hardner..
add reducer, mix, then pour to see viscosity. when it looks good, add to gun and test shoot on an old car hood or similar. if too thick, add some reducer, mix and try again. if too thin and running, add a lil more virgin paint.
i always prime bare metal.
if you have good paint to work over, especially on the cast, it's ok to paint over that usually, though do a test spot to make sure your new paint and reducer isn't orange peeling the original underlying paint.
PS. this is on a work tractor. on a show job, i'd bit the bullet and get the old paint off with a wire wheel, knotted cup, flap sanger, 3m abrasive wheel, chemical and heat strippers, needle gun.. etc.