I disagree somewhat.
Gelcoat needs a flat surface to shine well, If you start with coarse
compound you wond get the truely flat surface hence the shine wont be
fully developed. You usually dont need to use much coarse compound
once you get the surface really flat with 2000 grit as coarse compound
is 'probably' in the range of 800-1000 grit. Wet sanding is a very
FAST way to get a surface Flat .... just like they used to do to get a
lacquer job on a super-expensive automobile FLAT before the final
polish.

In article .com,
Keith wrote:

The above sounds good, but I'd try just buffing with 3m's brown
compound first, then Finesse-it to see if it brings back the shine you
want. I've brought back some pretty bad hulls that way. I only use
Collinite Fleetwax paste wax as well. Works very well and lasts a long
time. Don't get these compounds at the marine store though... you can
get them for half that price on the web. The place I get mine is:
http://www.autobodydepot.net