It's been a few years, but I did try a few brands of water based finish. The only one I can remember is M.L. Campbell. Mostly because that was the only one I didn't hate. Overall, it was okay, but not something I could see doing on a production basis. Our spray room gets pretty hot in the afternoon and blushing was a potential problem during the high humidity days.
Supposedly the water based finishes have become better since then, but I'm hesitant to try some again. While I like the idea of being more earth friendly, it would be a step down in finish durability for us.