MATT - I don't think ANY OEM paint is immune to fading if left outside. Biggest complaint I've heard of Valspar paint regardless of color is fading. Red is actually MUCH worse at fading than yellow or white. And Valspar used to be an IH paint supplier! GAS is death to paint, oil actually seems to keep it from fading. That's why I powder coated my gas tank and all the engine covers for the 72 several years ago. And a good polishing once or twice every year with paste wax makes the paint hold up MUCH better.
To perform a successful repaint you need more than just a cheap HF gun. The compressor of course, and bigger is always better, cools the air more out of the compressor when not running and makes for drier air, then you need hose, and a coalescing dryer/filter & PSI regulator. And I always use a disposable dessicant filter right on the gun. My Buddy even went as far as to get dedicated hoses for painting. Even built a permanent ventlated booth. He did have problems with fish eyes on a mower deck he painted before He got the dedicated hoses.
And then using hardner you have to get the really GOOD charcoal filter respirator, the hardner is basically CA glue and can kill you or severely injure your lungs. Using just a surgical mask is no where near good enough. Then you need solvent for thinning & clean-up. A gravity flow gun requires WAY less solvent for cleaning, the old syphon feed are terrible to clean.
When we did the painting on SON's truck, actually a very close match to IH 2150 BTW, a quart of color, quart of clear, gallon of solvent, hardner, graduated mixing cups, some additive for the plastic frt air dam & headlight buckets came to $250 for PPG materials. Best to stay with a single manufacturer now days since all parts of the paint system are compatible. With BC/CC the quart of color was enough to paint HALF the reg. cab short box p/u, but we'd have needed at least another gallon of clear & more hardner. There's cheaper paint systems available, but each person has to make that determination. The system Son & I used had specific temp ranges for the thinner/reducer, so much paint, so much reducer, so much hardner.
Forget if it was summer of '68 or '69 I repainted the grill, hood, & gas tank on the Super H with IH rattle can 2150 and installed new decals. Yes, it's faded, even sitting inside for over forty yrs, but you can still see the dark streaks down the sides of the hood & grill where the radiator cap pressure relief stuck one afternnoon mowing hay and released shooting anti-freeze all down my month-old paint. Hot paint, hot anti-freeze, and a little dust on the sheetmetal sure ruined my day. It was all dryed, and damage done by the time I could get anywhere near water to rinse the antifreeze off.