I've used epoxy paints before, I've used water based paints, and I've used polyurethanes. This stuff is a bit of a mix of all of the above. The undercoat is a two part waterbased epoxy. No isocyanates as far as I can tell (yay!), and simplified clean up because you can flush most of the mess out with water. There's a brush-clogging residue left though that has to be removed with epoxy thinners.
This stuff is extremely thick. It builds quicker than any paint I've used before, and refuses to level. I used a 5mm nap roller to put the first layer on, then tried a brush for the second coat. I think I'll try thinning it out rather more than the recommended 10% next time, to save myself quite a bit of sanding.
Based on my experience with the undercoat, I tried spraying the top coats, a polyurethane with a cross-linker that you bung in just before going to work. Again, 10% thinning as recommended is nowhere near enough. It sets up in mere minutes. I can see a path to gloss without buffing, but I've got a ways to go before I reach that. Anyway, here's the centerboard. From two feet it looks fantastic. Just don't look too closely!