why to you keep reposting to New posts? You have already been answered on this question on a previous post. You need to read the rules for iBoats. No one is going to want to help you if you keep creating new posts everytime you have a question.
http://forums.iboats.com/showthread.php?t=410295
Wet sand and then repaint - I used to paint for a living and many times the first coat would be wetsanded and we would break through the finish, but thats ok - just recoat. As a matter of fact - doing this until you have a perfect finish is not a bad idea. Keep wetsanding any imperfect areas and then recoat until you have a perfect paintjob.
The main thing about wetsanding is too make sure the coat of paint is 100% cured before wetsanding, otherwise it sort of balls up in the sandpaper and you end up not getting the finish you want.