"I've read on a few sites that the Air Assisted Airless paint technology has a much higher transfer efficiency than HVLP."
i doubt that VERY much if it's being used correctly.
"Has anyone used this type of technology?"
Does not seem to be too different than pressure feed HVLP.
"It's very expensive. But if it saves paint it might be worth it. "
This may work great on a furniture production line but in a bodyshop, spraying one car at a time through the booth, I think cleaning and flushing the system would eat-up any savings of time or materials. You just can't take the chance with catalyzed paint setting up in the lines.