The luan (from Home Depot) on my TD was left unpainted for 3 years with no problems, but soon after painting the luan began to delaminate in places. The problem seems to be confined to two sheets; one sheet on the curved roof is delaminating and also one on a flat side wall. I do not know whether the coating on my TD sealed water inside (it seemed plenty dry when I painted it) or the solvents in the oil based primer may have compromised the glue in the luan, probably something else that I have never thought of, but it appears that painting the luan actually contributed to the problem.
I threw together a small shed for my drill press and air compressor when I had that fancy "award winning" shop in a mud puddle out in the woods. It was skinned with unfinished box store luan (purchased at the same time and store as the stuff on my TD) for a good 3 years with no delaminating.
I also built a cabinet/closet out of box store luan on the outside of my present woodworking shop for storing my wife's gardening tools. It's going on two years now, no paint, and it is not delaminating. I would not be surprised to see it delaminate soon if she ever gets around to painting it as she has threatened to do......

I will repeat now, this is just an observation, nothing more.
