this product and how it will last and how the product will react to the moisture. I have only painted high density MDF and had good results with it. I imagine its because of its smooth and treated sides. I would only use latex products, meaning primer and final coat. I would also go light applications and many coats.
When your done and if the surface has bumps and feels rough, the moisture has swelled the material and caused it to rise and fall. If so, before long it will chip and crack.