Sanded, painted, re-sanded, and re-painted. It's still rough though, I'm going to have to hand do the sanding this week, and then I can lay down the final paint work on it. I've been painting before sanding because working with light-colored molding compound makes it difficult to see flaws in it. Painting it makes them visible.
Still, it's looking good. I 'll be uploading a trio of WIP pictures shortly