I think I have to disagree with you a bit here Michael, sorry.
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The first guitar I finished was a brushed lacquer, and while it wasn't as nice as the FP on my last guitar, it turned out quite nice. I just used Deft lacquer right out of the can with a cheapo brush. I didn't even thin it out (or know better). The key to the entire process was the wet sanding in between. The wet sanding leveled any brush strokes, overlap, or irregularities. When I finished the back, it was like glass. After wet sanding the guitar, I used McGuires medium cut, followed by swirl remover and then polishing. For less than $20 bucks and a whole bunch of elbow grease, it looks really good. I wouldn't hesitate to do it again if I get tired of FP.
Cheers!
John