You need to define 'setting compound' I use green lid 'multi purpose' for setting the paper because it contains glue and bonds the tape to the wall board.
Powdered easy sand---this is the fast setting compound is not the best for embedding paper tape---however it will stick to painted surfaces well if the paint is lightly sanded first.
Mike green lid all purpose is a drying compound not setting. The setting compounds have a rough enough texture I rarely sand fist. But hey it never hurts to rough it up a little.
As far as painting quick let me add one thing. After patching with the setting mud you need to make your final coat with a drying mud. The chemicals in the setting mud seem too be causing problems with some paints.
Last edited by ToolSeeker; 03-10-2013 at 10:01 AM.