Quoted from ChadKeller:Sand that flat. It will show unless you do it.
Really?? I have this same thing going on -- although I primed first. In retrospect I should have sanded finer grit before even primer. I think I used 150 on the wood, then 220 on first coat primer then 320. I am sanding after first paint coat with 400 and seeing irregularities like op has.. but if I keep sanding it goes back down to primer or occasionally wood.
Getting tired of the process though.. was hoping at 400 grit that the small imperfections wouldn't matter?
Op -- what grit are you at right now?