Okay, the 1st coat is dry (finally).  The can says 12-16 hours of dry time but it was closer to 36 hours - maybe it was the temps were a little low but I digress.

The question now is; do I do a second coat?  The finish is a little on the rough side, certainly not the smooth glass finish that the boat came with and I am wondering if it can ever be brought back to that finish.  I figured I would lightly sand with 120 - 180g paper and then use a squeegee for applying a thinner layer.  Any comments on this?  I was also thinking maybe let it dry for a few hours and then squeegee?  Or, maybe dilute the varnish with a little 333?  What say you?