In another post you said
I have a Hobie 14 of that exact same vintage.
I took the old stripes off with a heat gun.
I filled the cracks with Evercoat All Purpose Filler Formula 27. This stuff cures in under an hour, sands well and last surprisingly well.
Then I sanded the hull. I went from 100 grit dry to 320 grit wet 400 wet then to 800 wet.
There is lots of gel coat on that baby you can sand plenty without worrying about it.
After sanding I polished it up and it looks like new.
After an unfortunate run-in with some rocks left my hull heavily scrached, I decided to try your method so I purchased the sandpapers you said you used. The attached file shows the hull after I got to the 400-grit (wet) level. At this point I dunno how it's going to turn out, but I'll do 800 and maybe polish it tomorrow. What'd you use to polish it? The darker spots are the original (pre-sanding) color; I was afraid to get too agressive with the sandpaper everywhere after I went all the way through the gelcoat in that one spot.
Guess it's going to look mottled but hopefully only up-close. Better than big ugly scratches! *sigh*
Also, note my over-zealous sanding about 2" ahead of the transom - there's some resin exposed there... still trying to decide how to cover that up.