I should have mesured how much water I used, but I didn't think about it. I ended up using about 2 parts paint to 1 part water. This worked for the Silver and the Silver Screen paint even though I used much more than the 2 oz of water per quart that is recommended to be the max on the jar of paint.. I sanded the silver I painted yesterday and put on a new coat today. This is my first experience with a paint gun, and I think I'm finally getting the hang of it.
My finished product looks good, but I don't know if it is really much better than blackout cloth. I draped some BO cloth over the screen to compare. The BO cloth seemed to have slightly more gain, but at the same time, it looked a little washed out. I'm happy with the new screen, but I built my frame so I can easily replace the the hardboard screen with a new one if I decide to try a different paint formula.