Andrew pin holes normaly happen due to coats being too thick. Each coat needs to be thin enough to allow the paints natural chemicals to escape during the first 15 mins of flash times. If the paint is thick and not thinned witb thiners it will not allow the chemicals to escape hence a bubble into a pin hole.
More thinners on your last coat to help it flow to a glass finish and no cutting or polish should be needed with 2 pk. On your build coats dont spray to try ant get a gloss finnish, keep them thin and matt then gloss up your last coat with slower spray motion not more paint.
Couldn't agree more. Can I ask why you don't use sanding sealer? For the Tele project I'm doing a finish that is unsuitable for timber mate and just want a clear over the wood. I spoke to a fw rep and he reckons I could go the sanding sealer, a few light tack coats of acrylic, let it dry then 2k it.