I found this through mustangforums.com where some people had some good results with this method. This has been such an interesting read, and I want to thank everyone for their contributions. I was going to get my car painted at Earl's or Maaco, but while searching for feedback on their services, I found this page. I've spent the past week reading and decided to finally start last Saturday with my 2001 v6 Mustang. I bought it a month ago for a great price, mostly due to the fact that it had been repainted, and very poorly at that. It had tons of orange peel, a ton of scratches and chips, almost no shine at all, and even had paint drip marks all over.
I chose to use Brightside paint, and went with the medium blue. Didn't know how it would turn out on a modern car, but I'm happy with it although it stands out quite a bit and some people have had negative opinions on it. I knew that if the paint job turned out bad, drawing attention to it with this color would just make things worse, but I gave it a shot. It is on the third coat, and I plan on wetsanding again, laying on a fourth coat, wetsanding, and then polishing.
I spent about $100 on supplies, and worked about 20 hours so far in my campus parking lot. I'm lucky it hasn't been too windy or wet lately. I actually have to drive this baby 400 miles on Friday, so I won't work on it any more until Saturday at the earliest. I'll update when I finish it up. It still has some way to go in the little details, and I really want to try to get a great shine out of it.
The paint it came with.
After sanding down and filling up a dent.
The first coat of paint.
Waited 24 hours for the second coat of paint.
Waited 24 hours, then wetsanded with 600grit, and washed down.
Waited about 5 hours, layed down the third coat.