I suspect this product is very much like the Duplicolor and Summit Racing ready to spray systems. Definitely bottom line as far as quality goes, but you can do a fairly decent job with any of them. That said, don't expect the paint job to last very long since these paints aren't designed for that. They're designed to be easy to spray, not for durability.

Also... do NOT sand to 1000 grit and expect paint to stick. For a non metallic base coat sand to 400 grit and for a metallic sand to 600 grit. The paint needs mechanical adhesion and 1000 grit scratches aren't big enough to allow the paint to adhere to the surface properly. Otherwise it will just peel off in a few weeks.