Looks great! Will be nice when it's finished.
As for the DIY respray it's possible to achieve a good finish with a can, but is time consuming (and still fairly expensive). I spent £40 on my current project (Raleigh Dyna Tech). It's my second DIY respray. Couple of tips I've picked up:
1) if you're not using a chemical paint stripper, use a medium grit (rather than coarse) sand paper to remove the lacquer and top coat. In my limited experience the primer underneath is in generally good condition, so I prefer to cut into it, rather than remove it completely. A fine grit will achieve this, once the top coat is removed.
2) you want to ensure the smoothest surface possible on the primer coat, as any blemishes will be reflected in the top coat. This is why running over the bike with a very fine grit (after removal of the top coat) is a good idea. Once you are ready you can apply a few coats of your own primer. The colour you choose is dependant on your top coat colour. A pearl white for example will require a white primer. Take your time applying the coats and rub down with wet and dry between coats to smooth out. I'd say 90% of the work in a bike respray is getting the frame ready for the top coat.
3) once you have a nice smooth surface on the primer you can apply the top coat, again rubbing down between coats with wet and dry paper (but with the paper wet). A 500ml tin might give you three light or two heavy coats. If you keep the tins in warm water before use it will ensure a good flow. Also shake them well. Keep them about 8 inches from the frame to avoid runs in the paint, and try to keep the tin moving. Lots of videos on YouTube of people spraying cars with spray guns etc and you can see the technique they use.
4) after my last top coat I allowed the frame to dry and then dulled it down with some wire wool (very light pressure)
5) the lacquer seems to respond better to the dulled down paint. I gave it a few coats of this. Some people continue to rub down between coats. I chose not to.
6) leave to dry. In mild conditions or inside a house, the paint will actually take a couple of weeks to fully harden, so be careful putting the componentry back on.
That's my 2 cents. I'm by no means an expert - I'm a complete amateur! But I enjoyed it immensely and it's very satisfying knowing you did it yourself