Dry-Lok is most likely the best thing although Enterprise and others do have waterproofing paint that can be used on concrete block. I've used several and had no problems. Regular block filler will not keep the moisture from coming in and will simply come off if moisture is a problem. If the Dry-Lok comes off it is most likely not from moisture but from salt that is coming through the blocks. This is can be cleaned up with a etching compound/muratic acid. The salt(elements) will cause the dry-lok or any other paint to flake off of the wall. By using this muratic acid and a steel brush (use the brush before the acid and not with it) this is the most recommended way of doing it. You can paint over Dry-Lok. Dry-Lok comes in oil(oil is best) and latex so be sure to get the latex if you want to paint over it with latex.
Time spent preparing the wall is more important that what goes on it. Even the best paint cannot stick to a poorly prepared wall. It is worth the extra time up front to prepare the wall.
Also, if mositure is a problem it is best to keep the water away from the basement. Dry-Lok etc. should be the last line of defense.