I recently found a pretty good paint for MDF. A new Runnings store opened in my area. While browsing the new farm, ranch, outdoor store, I discovered a Matte Black oil based implement paint that looked interesting. The 1 qt. can was very heavy indicating there was a lot of pigment packed inside. For $11.99 qt, I figured it was worth a try. IMO/ matte black is the perfect color for stands, speakers, equipment racks, etc.
I have an old Adire Audio Tempest sub I built 10 years ago that has been collecting dust for years. It was a huge ported box that worked great for HT, but was just too big for my small room "man cave" I cut the raw MDF box down to make a sealed front firing cube. I coated the box with epoxy tinted with graphite powder.
I decided to roll on the matte black paint to get the stipple look I wanted. First I tried a 3/16" Wooster foam cover which gave me a perfect "leather look" but I couldn't get rid of the roller tracks. I switched to a mohair cover, and finally got the finish I wanted without the tracks. The paint is great to work with, covers easily, drys fast, and has almost no odor (VOC's) for an oil based paint. I don't know about durability, but being an oil based implement enamel, it should hold up well. It can be sprayed as well.
Here's a link:
(Note the description in the link states 1gal. gloss black, but it's actually 1 qt. matte black)
http://www.runnings.com/paint-and-primer/majic-paint-town-and-country-tractor-truck-and-implement-oil-base-enamel-1-gal-matte-black.htm