well I'm no expert, but I'd never get bondo wet, or surfacer primer, they are porous, as he sez - I think the primer-sealer is the wet sanded coat, as it doesn't absorb the water, and that's the coat you want real smooth anyway - I've always just sanded the surfacer up to 400 at most, my paint guy takes it from there w/ the sealer at 600 and finer, depending on how great a job you want - at times they might wet sand the color coat before a clear coat too - I did have a paint job done by a fairly inexperienced guy one time that got pimples in a fairly short time because of water in the primer, but that might have been from a poor compressor setup - it does happen
gives ya something to chew on till an expert comes along
Bill