I would recommend you look at the newer Benjamin Moore product ADVANCE. That's what I'm planning to use on my cabinets. I've already sprayed plaster and tile with it and brushed/rolled MDF trim. There's a thread on the Home Decor site about it right now.

You can search GW and Google it to read more, but ADVANCE is basically an oil suspended in water. It has the durability and self-leveling of an oil with the low fumes, faster cure times, and easy clean-up of a latex. I would recommend a foam roller instead of a brush, but that is just my preference. I think SW and some other companies have a similar product, but BM ADVANCE is suppose to be the best (and it's the only one with which I have experience).

Oil paints do yellow, but it is based on air and light exposure, so each situation is a bit different. Since you're planning on a white, you would likely noticed a bit of yellowing. It's not always unpleasant, more like a creamy tint. But if you have to touch up later, it would show. Again, read up on the ADVANCE paint; it's good stuff, and actually a bit cheaper than the equivalent grade oil paint (because oil is petroleum based).

The Paint Forum has discussed a latex called Cabinet Coat that is suppose to be really good, but I've never used it. That might be another product to look for, though, since you want a white shade.