rockhpi,
I have used Alclad several times, and I haven't had any problems with it. It goes on very thin, so it will show any issues with the surface of your model. Your prime coat can help hide some of those however. I do prime with gloss black, as it gives some depth to the color. You can prime with other gloss colors as well to change that tonal quality if you want. It doesn't have a huge impact, but there is some.
I have had zero issues with Alclad lifting once it's cured. I found that giving it two full days to cure is a good idea. It appears to dry faster, but I ended up leaving a minor fingerprint on the tail of a MIG 21 I built when I handled it after about 24 hours.
Clean up is easy with lacquer thinner.
I hope that helps... and post pics of your success!
Dud