I just recently finished exactly what you're describing to my gold 1964 R2. I spent 55 years in the body shop industry, in all types of shops and positions. When I purchased my Avanti 2 years ago I could see a build-up of multiple paint jobs done without the benefit of stripping. Having painted many dozens of fiberglass cars in my history, this didn't faze me. Was I in for a ride! I stripped off 1 top layer of base coat/clear, 1 acrylic enamel layer, and finally the original lacquer layer. What a mess! The gel coat was intact and in pretty fair condition. I achieved all my lines and gaps with a few hair cuts here and there. Smoothed out some old bodywork and sanded the entire body with 180 grit DA paper. I then covered all exterior panels wit 3 coats of Slicksand Sprayable Polyester Filler to seal everything up. Lightly sanded this filler with 240 grit DA then primed everything with 3 coats high build Euro catalyzed primer. Ready for blocking. This is where some experience comes in. A black powder guide coat was applied. I used the whole kit of various rubber sanding blocks on this car due to its many cavities, peaks, niches, and lines. I primarily used the 6" and 12" flat blocks and the round tubes. The guide coat will tell you when the panel has high and low spots. I did NOT sand through the primer to the gel coat. I slopped blocking when I hit the polyester and added more primer when necessary. Did I mention that ALL the glass and exterior trim with lamps had to come out? I used mostly 180 grit on the blocks. An Avanti's body panels are not meant to be completely flat anywhere. The best you can do is to follow the natural humps, curves, and bulges without flattening them out, just removing the small "waves". A final double coat of Euro prime and a light water sanding with 600 grit and I was ready for the paint shop! Heck yes, it was a lot of work and took over 100 hours just for this prep for paint. The painter then applied his preference in sealer, 3 coats of base color, and 3 coats of clear. I took the car home ,water block sanded the clear up to 3000 grit, and buffed with 3M Step 1 and Step 2. WOW! Can't wait to see it in wax. Your "waves and ripples" will depend on your primer block sanding expertise with a guide coat. That's why the pros get the big bucks. My shop estimates were all between $15,000.00 and $20,000. As you know, there's a lot involved. Just saying.