In your example the house has 1 SF of ventilation or is 12 SF short. With those conditions the peeling paint you see is no surprise. There is an exception to the 150 rule called the 300 rule. This exception can be applied if there is a vapor barrier in the ceiling of the attic. The concept is to stop vapor drive from the interior reducing the need for ventilation.
Interior vapor trapped in the attic can easily be the cause for the peeling paint problem.
A vapor barrier is virtually unheard of in an existing house. Ceiling lights often compromises a vapor barrier in a new house. Therefore, the protection of a vapor barrier does not exist in most homes. This is the way you want to go. With this vent configuration you only need 6-7 square feet of ventilation total.