Show quality and breeder quality. Different folks have different definitions of exactly what these terms mean. In my mind, a show quality bird is one without any disqualifications that is representative of the breed standard and variety. Ideally you want a bird that will compete well with other birds of the same breed and variety.
Breeder quality is an even more elusive term. Many use the term to mean a bird that doesn't quite make show quality. Some expect that breeder quality birds have no disqualifications. Personally I do not agree with either of those definitions. To me breeder quality is a bird that has something valuable to add to the offspring. For example, if you have a bird that is absolutely stunning, but has an easily bred out disqualification, I would consider it breeder quality. Also, what is valuable to one flock may be different than what is valuable to another.
Since you mention paints, I assume you are talking silkies. Paints are not a recognized variety, although they are popular and a number of silkie breeders are working on them.