Step 5Prime, Paint
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When applying paint, it is important to spray thin coats and keep it even. The paint that I was using was really nice, and went on very smoothly. I ended up spraying three coats of primer, waiting about two minutes between each coat for it to tack up. I let that sit all night and sprayed the paint in the morning. I had to spray the paint on even thinner, because it really wanted to run and sag. I ended up having five coats of paint on top of the primer. That gave me a nice color and a nice finish. I let it set at least 24 hours before I pulled off the tape.
The paint turned out pretty well, and it just looked like little patches over the old rust. The color wasn't quite the same as the old, but it was pretty close. It also had no clear coat on it, so it had a little different finish. I didn't bother buffing the edge of the paint so that it blended with the old paint.
Aerosols can't deliver the flake, so you'll never get a match. If your mask was outside the paint area (i.e new paint over good paint around the repair) you could soften the line with rubbing compound and a microfiber cloth.
One thing to add to your next repair is a degreaser. This is a solvent that removes all the wax and grease and road grime everywhere you want the paint to stick. They sell it where they sell the paint.
My second suggestion would be to 'feather out' your sanding. Try to sand each layer to an inch-wide stripe. This gives you less of a step to deal with in filler and paint. Change to a less aggressive abrasive and smooth it all out.
Most importantly though, you have stopped the rust in its tracks, and from 20 feet, no-one can see the repair. BTW with older cars, one way of assessing their state is in feet: "Its a 20-footer" explains how close you have to get to see noticeable defects. As you might expect, a 10-footer would be in really good shape.