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I really don't see the point of all that wet sanding between coats, why not wait until all your paint is down and dry?

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The whole point to the wet sanding between every second coat is to keep the surface as smooth as possible. The smoother the surface that you are applying the thin coats on to.. the shinier the paint will be when you finish.

IF there are slight imperfections in one coat... the later coats will act like magnifiers and make them more visually pronounced. So if you can knock those slight imperfections back as you go along... well the next coat will hopefully look 'that much better'.

Although the paint ( when thinned ) does 'self level', that doesn't mean that it is going to self level imperfections.

But in a way it is kind of a 'you will probably wet sand' anyway situation... because wet sanding helps you eliminate the bugs, spiders, hair and other foreign matter that 'may' land on your fresh coats of paint

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