One of our local club members gave a presentation at his house spraying a lacquer finish with inexpensive Harbor Freight gear. (<$30 for gear, assuming you have a compressor and a Harbor Freight coupon) He sprays in his driveway and can do a complete finish on half dozen pieces in a half hour, including clean up. Learning about his method knocked my socks off.
He has a system that simplifies the clean up process and makes it quite feasible to apply lacquer to smaller batches. The process is so casual that it includes dumping poured but unused lacquer back in the original container, which shocked me. The expensive part of the process is the lacquer, but very little is used up and it apparently lasts forever in a closed paint can, which also shocked me.
The key may be the lacquer he uses, which is Sherwin Williams. Other lacquers might also work, but he's sticking with the one he knows gets the job done. My understanding is that Deft lacquer in a can is designed to be brushed and doesn't work well with a sprayer or his system. I regret that I have had the spray set up sitting on the shelf for over a year and not tried it yet, so I can't speak from first hand experience. (If this system sounds like something others would like to get details about, somebody get Joshua to let me know and we'll whip something up for the American Woodturner.)