I have done a variation of this on 2 guitars with great success. I have a tendonitis problem and can't do the FP technique, so devised this one. Also, it takes 1/2 the time of an FP finish and still ends up with a thin layer of polished shellac. I do a lot of woodworking in other areas too, and have never gotten into spraying - this does not work for those of you that spray, but rather for those of you still in the decision stage - give it a try:
First - and you all know this - make sure that things are very flat before applying any finish. The sides are a little tedious at this stage, but some work here makes for a much easier time later.
6 coats of 3# cut - more shellac, less alcohol. Quick sand between every other coat to get the highest points off. As Don Williams - "Mr Shellac" - uses, I use a brush called a Filbert Mop that looks like, well, a mop. Great success there. Mix your own shellac - never use the sore-bought stuff for something this important. It won;t take much - 12-16 ounces of prepared shellac will be enough with plenty left over.
After curing for a week, use a small brown eraser (you know what this looks like, and I learned this here on this forum) with a piece of 400 grit around it to do the initial leveling. You may want to use 320 in some areas, but enough randomness in your motion (left-right, up-down, 45° to the left, 45° to the right) and you get very level. Don't get rid of all of the variation in the finish at this point so you won't sand through - in other words, not all the way to level yet, let that happen with the other grits. (learned this very valuable trick here on this forum).
Once you are leveled, use finer grits and each step goes very fast - surprisingly fast. I have used 3M micro paper (
http://tinyurl.com/pbv4yh7 for one source ) and gotten by with a 1/4 sheet of each grit for an entire guitar. I use water with a drop of dish soap as a lubricant and it is very easy to dry with a paper towel periodically to check progress. 600-1200-4000-6000-8000 and Bob's your uncle.
Then some automotive polish with a pad and then some wax - voila
This is not a mirror finish, but you could get there with some buffers and other stuff, but I do not like a mirror finish on a guitar anyway. I am about to try the same technique with a varnish.
Good luck and hope this helps someone
Ed Minch
color is a little off on this shot - it is really a nice mahogany brown: