I've been following these instructions on painting my tank.

http://www.gs500e.co.uk/forums/showthread.php?s=&threadid=1440

I have put on the last layer of enamel (2 stage paint) and there are tiny dimples in the paint.
I want to know when I should spray the clear coat or is the clear coat needed at all.

Should I sand the paint now, and then apply the polish compound or should I sand, apply clear coat and then polish?

:dunno:

I would wet sand the paint and spray a clear coat. I would use 320-400 grit.
If the surface didn't have any imperfections you could use finer paper, but it would take alot longer.
The dimples are called fisheyes. Make sure you sand enough to level the surface. A sanding pad with sandpaper wrapped around it will act like a sanding block that works on curves. Paint supplier will have that.
Then get a fisheye additive for the clear coat.
If you put a nice even coat of clear on, you shouldn't need to do any polishing. If not, then wet sand smooth and finish with polishing compound.
Depending on how rough the paint job is, you can use 400grit and work down to 1000grit. Using the ultra fine paper will take forever on anything but a smooth surface.

Thanks Bob. Have you received the ignition rotor yet? I sent it out Friday USPS Priority.

Just got it this evening. I'll send it out Thursday.