I think the greatex extender does a better job of thinning createx. It doesn't thin the color and is more compatable than liquitex. I use liquitex also and when doing so I use their reducer. I found that the pearl colors of createx doesn't handle as well with the liquitex reducer. I think their formulation is a slight bit different.
You also get a lot more from a bottle of paint using the reducer. As George has said the thinner paint allows a lower pressure and more controll of the airbrush.
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