On my transom core, I wanted the extra protection of complete encapsulation with CSM, so I wrapped the edges. I suppose PB could have the same effect, but I didn't want to take any chances on leaving voids that might provide a home for water, should it get in (heaven forbid!). Also, I found it to be good practice for covering edges, since the transom core was out on sawhorses and I could get at it easier. Better to learn on that than when you're on your hands and knees in the boat...
Sanding, or even better, routing a radius on the edge will make it a lot easier to wrap the CSM, if you decide to do that. To get the CSM to lay down, there are at least a couple of approaches. One way is to just baby it with a bubble roller, going over it until the resin really kicks off. Alternatively, you can wrap the edge with plastic cling wrap and that will hold it down nicely, too.
What you show in your pictures is about as smooth as CSM gets, or I should say, it's about as smooth as mine ever was. For surfaces you want smoother, plan to cover with a finer cloth and/or use some fairing compound. I did both on my deck.