Quoted from Anth:
In my experience this was not the case. I laid it on thick, as in a whole can, and it leveled and dried super glossy with no orange peel. I did get a can with a bad nozzle that gave me some heinous orange peel though. Watch out for that.
I forgot to mention that I used a 2nd can later on. The initial coat I did with the Spraymax, the seal-in coat, was done in multiple light passes. I sanded that down, did my waterslides, then laid on thick for the 2nd & final coat.
On my Centaur, I did 2 cans, both heavy, and ran into a bit of trouble with the orange peel. I probably could have sanded it down further in hindsight, but the paint was so flaky on it I was afraid of sanding into the 30+ hrs of work I did restoring the art everywhere. I am okay with the orange peel. I saw another thread where someone used 3 cans and got near perfect results. I probably could have lightly sanded and done that, but it is already assembled and working, so I'm content. Lesson learned for the next one.