Without seeing the finish ourselves, it's hard to say as to whether it's past the repair stage or not.
With Orange peel, all you really have to do is sand it with a FINE wet and dry sand paper. Using a little water is a must, and sand in a circular motion, otherwise you end up with big gouges in your finish.
The 'gritty' looking bits are most likely paint that dried before hitting the surface of your model.
The choice is yours really.
Personally I'd sand some of it first to see if it can be repaired.
Or you may choose to strip and respray.
But remember the most important thing, don't be discouraged!!!Very few people have had instant success with NMF, just takes a little practice, thats all.
Sean