If you block and level it right, you'll have upwards of 40 hours in sanding alone. I primed my car 4-5 times before the low spots all went away and the primer laid down right for the final sand before the paint went down.
I would suggest using an acrylic urethane, too. I'm using a paint made for Summit Racing. They have a lot of colors to choose from, and I think the paint is made by Eastwood for them.