One of the things I found with Perfection (love the paint, BTW) is that different colors have different viscosities. Don't know why, but when I painted the hull the white was too thin out of the can to thin (does that make sense?) but the blue I used for the cove stripes and boot stripe needed thinning to almost 20% to roll well. Unfortunately with any 2-part urethane it gets expensive to do much testing beforehand.Mind giving us amateurs a lesson? What paint did you use and how much did you thin it? I've used perfection and if I didn't thin it, it was impossible and still hard not to get orange peel even with thinning it 10%. I guess thats why you did wet sanding between coats eh?
One thing I did which made the biggest difference was to use 1/4" nap velour rollers. Even a 3/8" nap roller left lots of orange peel. Best I can recommend is to use the shortest nap roller you can find and try thinning a bit more. And if you can, mix the smallest batch you can from the can - use tiny measuring cups - and test .
For the dodger I used Interlux Brightsides - I tried to find Perfection but it's pretty much unobtanium right now. The wet sanding between coats was just as you said, to smooth the surface for the next coat. I started with 220 grit moving to 320 and 400 before the final coat. The finish is not glass-smooth but I'll hit it with the buffer and compound in a few months to polish it up.