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I was reading recently about Nitro paint and "breathe" is not an accurate terminology at all. Since the tree is chopped, all the wood is considered dead nature after some weeks when it dries completely.
What happens, is that because Nitro is very very thin, it allows the wood to resonate more than other "heavier" paints as you said.
Regulations in some industries do not allow the use of Nitro paint anymore as it is harmful for the environment (i.e. Cars).
Maybe it ages better because it is thinner so you don't get massive chips in the areas that you place your hands and body more.
Gibson used Nitro colours so that's you see nice aged Les Paul's and I am sure other manufacturers did the same.
^Nitro cellulose lacquer. thinner finish than poly, sure there's loads of woowoo and vintage fetishisation out there and better alternatives these days but the received wisdom was that a nitro finish allowed the wood to "breathe" and resonate more. Mainly though it will age nicely and develop a pleading patina. won't necessarily look any different new.