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Oil is harder - which is good and bad - it is harder to scratch - but it chips more easily.
If you are using white - oil will yellow - latex won't
Oil levels better - so it shows fewer brush marks - but it tends to be a little thin - so it is more likely to sag.
Tough call really - there are pros and cons to each.
I personally like either an eggshell oil (Ultra-Hide 1512) or an ICI product called Ultra-Hide Lo-Lustre (latex).
You also might try a new product ICI introduced last year - Advanced Alkyd - flows, levels, and is hard - like an alkyd - but cleans up with soap and water - has little odor - and dries to the touch in about 4 hours.
I have only limited experience with the Advanced Alkyd - but it appears to work as advertised.
These products are available at an ICI Paints Store.
"Enamel" (in common paint parlance) refers to ANY hard washable finish - LATEX OR OIL!
As the previous post implied, whether it is oil or latex is not the only variable. Semi-glossy finishes will clean up better than matte/satin/eggshell finishes.