Backlash
Well, not backlash from me, but some of the common "disadvantages" of not using a purpose-built spray booth I've seen around the web are as follows:
* One of the purposes of a ventilated spray booth is to create airflow to pull the paint across the model, and out the back. Without this airflow, if you're just spraying into a closed cardboard box (for example) you're basically creating a cloud of paint in the box and risk having a bunch of overspray collect on your model. The airflow helps pull all the extra paint particles out of the way and keep the newly-painted surface clean.
Much of the "backlash" about ventilation, filters, etc, has to do with ventilated spray booths. Not an issue for a simple cardboard box, but if you are hoping to save money by building your own bona-fide spray booth, you need a way to provide that forced ventilation:
* For a home-made ventilated booth, there's much discussion and disagreement about what kind of fan/motor to use. "Backlashers" will insist that any motor that's going to be in the airstream must be sealed (and explosion proof?). This is because sparks from an unsealed motor CAN ingite the flammable paint particles passing through the motor. This is obviously a problem for solvent based paints, but acrylic paints are not necessarily completely safe, either. Turning your home-made booth into a fireball is admittedly very rare, and you'll find plenty of anecdotal evidence on the web of people testifying they use an unsealed motor all the time and have never had a problem. Better safe than sorry, the Backlashers will say. Fine, the DIY-ers will say, use a kitchen-grade ventilation fan, which is designed to be used in a place where grease particles are flying around (i.e. a kitchen range). If it's safe for kitchen use, it must be safe for atomized paint particles. Not good enough, the Backlashers will say. Comparing the flammability of solvent-based paint to that of kitchen grease is like apples and oranges. Usually, the best kind of motor for this application is said to be a "squirrel cage" type fan because the motor is outside the airflow.
* Furthermore, the fan should be able to move a certain volume of air per minute. Some math is required to figure the size of the booth and account for ductwork, filter(s), and other "losses". Once you know what size fan motor to use, and factoring in the flammability considerations above, shop around and you'll see that these fan/motors are kind of expensive, and you won't save that much $ by DIY. Might as well just buy the purpose-built spray booth and avoid the hassle.
Again, I'm a neutral party in this discussion, but I guess I'd lean more towards the "better safe than sorry" side. Personally, I use an ordinary cardboard moving box right now, and it seems to work OK. I'm concerned about and mindful of the overspray issue, but haven't noticed too much of a problem with it. If I had the disposable cash, I'd definitely buy a purpose-made spray booth, though... But I'd be tempted to use that money to buy a new sound-equipped locomotive instead
Regardless of what you use, properly ventilated or not, it's always a good idea to wear a good quality respirator while spray painting or airbrushing. That goes for solvent-based as well as acrylic-based paints. Acrylic paints may not have the harmful chemical fumes, but you're better off not getting those tiny paint particles in your lungs.