At this point, I can still faintly see a ripple efect of the grain telepgraphing thru the finish - DON'T PANIC !
Start your clearcoat schedule now and build up a decent amount of clearcoats on the guitar ( approx 5-6 coats ) as we are going to level the finish and see gauge where we are up to.
You need to wetsand the finish now but we are not going for an aggressive sand, we just want to level the finish out and see any dips or low points that need attention. Keep water away from any holes. If you see anything that is going to be a troublesome to fill with the next 3-4 coats of clear, you can drop fill them now. You will also eliminate any signs of grain with this sand. All you will see after this is completed are random shiny spots that indicate we still need to build the clear coats up some more.
At this point, I can see that its nearly there, I just have a few shiny spots that are still visible. I now spray another 3-4 coats and let it sit.
Repeat the wetsanding process this time eliminating all of the shiny spots and buff thru your compounds.