RE: Water borne
We've been using water borne contact for many years. There is a learning curve! We spray from a large SS pressure pot (expensive.) It handles a lot like paint as opposed to the typical solvent contact that is stringy. Properly applied (no heavy overlaps) dry time is just slightly longer than solvent. We spray natural and it goes on looking white and turns clearish when dry enough to lay. If there are any areas that are still white, stop, let it dry more. Those areas are telling you that you have poor spray technique!
WB is thin, needs to be sprayed like paint. If you get thick areas they will skin over and be really slow drying. Open time after drying to clear is long with the brand we use. As long as it is protected from dust it doesn't seem to be out of range in at least an hour.
Back when we made the switch and once when we changed brands, we did comparative testing. Not all are =! Some were quite poor. Testing consisted of putting on the specified quantity (checked by weight with a highly accurate scale,) using the pinch roll to get the same pressure on all test pc. I think we made 8 test pc. for each brand. Marked with date, etc. After a few days laying around the shop two were put in the sun for a few weeks, (simulating window displays) two were put in the freezer for a week (simulating a ride in a semi-trailer.) Two were put in an old black metal file cabinet placed on the south side of the building to simulate summer conditions in the semi. Two were kept in the shop, one for long term test, at least 6 months.
Neither the freeze test nor the heat test had much affect on the overall performance. Time did.
We tried to control the variables, but some are always present. The tests #'s were too small to be statistically valid. These were all done using the same laminate & same sheet of P Bd. Last year we had a failure, delamination. The adhesive held but the face of some 1/4" hard board pealed off.
Do your own tests before switching. Learn to spray like high end car painter.
When ever possible we try to use pre-lam done with hard setting glue. Much better than any contact cement.