With a small compressor, you should stay away from HVLP, they are air hungry (the HV in HVLP refers to the high volume of air they use, the advantage is HVLV guns generate less overspray, so less waste)
Rabbit, I think you meant LVLP, not HVLV. Dunno...

Also I'm not disputing Rabbit's comment, but based on my own experience, the HVLP mini-gun works just fine with the compressor I detailed above.
And I don't think overspray is as big a concern when you're spraying small areas like guitar necks & bodies as it would be doing large flat(ish) areas like car panels.

FWIW, if there are budgetary concerns, the LVLP guns seem to run about a $100 dearer for some reason.