Capesams,
123 is not BIN. 123 is a latex version of BIN. BIN is shallac based and a good stain killer because it dries very rapidly... you can run into problems with BIN for two reasons. 1) BIN dries so fast that it does not penetrate into the wood at all, therefore it lifts when the wood absorbs water. The other problem is that sometimes acrylic paints don't like it very much this happens mostly with flats, createx base coat white sometimes has a bad reaction and crackles, no matter how hard you try you will not cover the crackles. I really only use shellac if I want to block a stain, and in that case I use amber shellac and then prime over it.
1-2-3 is zinssers answer to a latex, quick dry stain killer. It has great adhesion and can be coaxed to penetrate using floetrol and water. It doesn't block stains worth a damn and personally I don't like it alone. I mix it with some other acrylic sealers and water and apply it as a primer through the airbrush.
Cutting oil based primer with turps works very well, penetration is good, adhesion is good, sealing is moderate. But the smell of the turps lasts and lasts and lasts. I don't think striped bass are really into turpentine.
Hope this helps
-Dave