You may try some different brands, as some companies use a vanilla scent to mask the formaldehyde fumes. As I understand it, the fumes you are smelling are a reaction between the acid and the formaldehyde. Conversion varnish is quite simply the best finish on the market for cabinets. It s relatively easy to apply, easy to use, and for the buck it s a darn good finish. Lacquer can t touch it as far as durability.
Conversion is a very good finish.
I use the Sherwin Williams when we want a tough, durable, premium finish. For general shop use the standard nitrocellulose is a lot easier for beginners to use, although you need to use the sealer first, of course. I use SW catalyzed lacquer. While it isn't quite as durable as conversion varnish, it is easy to use and pretty forgiving. I use a post cat lacquer.