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I still use a semi gloss on trim due to the fact that it wipes down well when cleaning. Really doesn't have much of a sheen on the trim as expected.
I'm not sure why but lately I have a real hate on for high gloss finishes. It's irrational but I can't bear myself to think about painting a door or anything in that kind of a finish. Semi gloss used to be the rule of thumb for baseboards and trim for durability and to create a sense of definition between the trim and the wall, especially when a lighter wall colour was used.
Paint is a lot more durable, the better brands anyway. Using flat paint in a kitchen or bathroom would have been unthinkable a decade ago but now it's not. I'm still unsure what finish I will go with but I used BM satin finish on the new window trims and I was satisfied with how that turned out so I might go that route.
As I slowly repaint this house (we bought April 2008) I am going with flat on the walls and eggshell on all trim and interior doors. My kitchen cabinets and bathroom cabinets will be painted in semi-gloss. I, too, was hesitant about going with eggshell but because the house has been bumped up a lot, the eggshell seems to hide it more. And the eggshell finish seems durable as I clean my baseboards a lot -- especially in bathrooms, entrance hallway and kitchen.
Personally, I think it's a personal decision. I have an aunt who will always and only use semi-gloss on trim. I have the impression that she frowns upon my choice but it works well in our home. ;)
PS. Just wanted to say thanks for your kind comments on my kitchen cabinet painting expedition. :)
I've had a lot of flat finish walls and if I do the trim (it's been old wood mostly so I left that alone) I use something like a satin. Not quite as shiny as a full gloss, but when I tried a flat it just didn't look right (although it was okay if done the very same colour/paint as the wall), you could see all the dust on it, and it marked more (think of how vacuums and such bang around trim). The shinier finishes tend to be more durable for things like trim that take more abuse than walls. Flat finish is a lot more forgiving if the trim is dinged or damaged as it won't show as much though (high gloss requires nearly perfect trim as every flaw will show).
Doors can be done in either, but again, you end up with greasy type marks around the handles or where people tend to put their hands so having the ability to clean more often is either required (and that takes a really good paint and not all flats are good in that regard) or the shinier finish.
I think the common wisdom is that trim should be shinier than walls as the shinier finishes are considered to be more durable and able to take the abuse that trim endures over time.
However, I've never been one to follow the rules. All my walls are eggshell and so is all my trim and it's all latex - including my kitchen cupboards. I don't like shiny finishes on structural stuff, trim included. I really wouldn't want my crown to be shiny.
I think that the new formulations of latex paint are very durable - I've never had a problem with trim or my cupboards chipping.