Yes, oil-based coatings turn yellow over time. That might not be a problem with a darker color, but the yellowing is noticeable when using white cabinet paint. This can become a problem too down the road if you try to touch up the paint, but the color's yellowed. I'm not sure oil-based primer would yellow much through your water-based paint, but oil-based paint does yellow over time. Using a clear coat can also change the color of your white paint too because the clear coat itself is its own color when it dries. Most people are using acrylic enamel, or a hybrid (acrylic alkyd) on cabinets, to avoid yellowing and the nasty fumes. If you want an alternative to oil-based primer, use BIN white shellac primer. It seals the surface like oil and dries hard.