I cant see your picture, im not sure if anyone else is having the same problem. But it sounds like you have the right idea. I just did a refinish, not on the neck though. The only thing im gonna tell you is this: I wouldnt sand down to the wood on an epiphone, you may be shocked at what you find. I sanded down my body until i got to the primer and repainted it (my guitar was bolt on so there was no need for me to do anything to the neck). But what im tryin to say is that my epiphone was made out of plywood, I dont know how much luck you will have with yours, some of the higher end models might be made out of real wood im guessing. I cant see your picture though, the main thing is this: If you have an epiphone, and it has a solid color, they painted over it for a reason (crappy wood). But it seems to me like you said you wanted to "keep" the natural wood look. Im guessing that means it already has a translucent finish of some kind? If you get the picture up (not sure if its just my computer) im sure people could answer your question a little better.