Yes, M105 will remove the defects quicker and will likely produce a better leveling effect of the sanding marks as well (less evidence of straight line texture in the paint).
Kudos on having the nerve and courage to carry out the task. If you would like, I can block some time aside on an upcoming Wednesday or Thursday that I am at the PBMG whare house and can give you some first hand knowledge about wet sanding. Not sure if that would help, but the offer is there. (PS I might need a ride around the block!)
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