Here is my 2-cents...
As mikec said, the surface must be flawless before spraying the MM metalizer. It is used as is, straight from the bottle, and I find it sprays very nicely. I also think the metalizers have a much stronger solvent smell, so I usually will spray them either in a booth or on a day when the windows can be opened and the room well ventilated.
The buffing metalizers can be buffer to enhance/alter the surface, but you must be careful not too polish too aggressively since you can scratch/buff through the finish.
On a P-51 or P-38 with metal finish, the Aluminum plate metalizer is a very good option for the predominant color. After the metalizer is dry I will usually coat it with Future to protect the metalizer. You can also use the metalizer sealer, but, again, I don't like that particular solvent smell.
Sometimes, I will use wet newspaper (after the initial metalizer coat has dried
) to mask off several random panel and then spray a slightly darker or lighter tinted metalizer to create the illusion of variation in the panels color. You can also accomplish this effect by masking off individual panels and then buff the metalizer to create a slightly different sheen on the panel ( again, be careful not to buff too hard as to go through the metalizer).
I have also used "Silly Putty" to mask after applying the metalizer and had no problems. But to be safe, seal the metalizer first with Future or the MM sealer and let is dry thoroughly (a day or so) and then use low tack tape, wet newspaper, Post-it notes, etc. to mask.
Well, maybe 3-cents...