I have the Cricut Maker 3. I use HTV with it & get good results. I have the Cricut heat press (9 x9). For smaller items, you can use their mini press or even a household iron.
I get results that I am happy with. I have no experience with heat-transfer paint. I imagine it would work for someone with good enough skills, but for me it would require some stencils. Depending on the design, I might need to buy a ready-made one or cut it myself (the more likely choice.)
I can’t speak for anyone else, but for me, some sort of cutting machine would be essential.