Really not a problem with that product. If you follow the instructions it will smooth out as it dries and requires no final step.
Yep. I've become a convert to satin poly on all my necks now. I also use Cabot's but I spray it with a gun or airbrush, not rattle cans, though it's a very similar formulation.

As Sonic said, if you get your last coat to lay on nicely (and you don't have a GD bug land in your wet finish coat - don't ask me how I know!) all you need to do is let it dry.

I'm still big fan of gloss on the body though.