Looking really great Dekka! Can't wait to see this bad boy finished. For the TO application, give it a nice deep soak coat to begin with. The wood is really thirsty at the beginning and will drink it up. After that apply as thin as you can, with the grain, and steel wool after every coat or two. After about the tenth coat, start light wet sanding with decreasing grit size every 3-5 coats starting with the grit lower than the one you finished sanding with (for me it's usually 600). Each time you wet sand, decrease the grit size. Don't wet sand too much (it's just a light wet sand) - you dont want to sand through the last coat. TO doesn't meld layers like lacquer does, so you can't wet sand in the traditional way. As the layers and wet sanding continues you should see a shine slowly develop. At about 1200 grit it should start to look awesome. If you are having trouble laying down the last layers without adding ridges from the rag, you can thin the TO a little with mineral turps (I thin about 50:50). This is my method anyway, many people will have their own opinions and tricks on TO application. Hope this is some help.
cheers,
Gav.