RE: How was your first time?
I have only done it once on a BVM 60" F-86. It looks just great! I can echo Les' comments about applying the stuff.
There are a couple of downsides though. It shows fingerprints everywhere it is touched. The aluminum is so soft that it is easily marred. I had to remove my watch and wedding ring while I was applying the FM.
You cannot get paint to stick to it unless you use a special etching primer made for aluminum. I painted stripes on mine so wherever I painted, I peeled the Flite Metal away from that area.
I went for the polished aluminum look with only some minor sanding on panels on the wings.
A bit of advice. Order at least 50% more of the FM than you think you will need. It takes so long to get the FM that you want to be absolutely sure you don't run out before completing the covering.