Ok, 1st mini review:
Apparently the bottle I picked up has been on the shelf for a while, because it was in a "thickened snot" type consistency. I ended up shaking the bottle for probably 1/2 hour, and it turned into a "runny snot" texture. As for the smell, I didn't think it smelled good or bad, just kind of a chemical smell.
With a polishing pad and the PC on '4,' I put a few mists of water on the pad, and another few on the surface of the car. I'd heard that IW spreads insanely well, so I put a few dime sized drops on the pad...they were right, the way this stuff spreads is insane. It took several minutes buffing an area before the water droplets disappeared, but I contribute that to the 52* temps outside. After buffing for a while, it would seem like you were no longer putting anyhting down on the surface, but a change of angle, and you could se you were still putting down a nice thin coat.
I went ahead and covered the car (except for the front bumper/rear bumper), then started lap 2 around the car removing the haze with a MF. No surprizes here, it buffed off without incident, and I could feel that it was pretty slick, even under the MF, which usually 'grabs' even the slickest surface. It's been about an hour since I removed the IW, so I'm going to put coat #2 on in a bit. I'm not going to bother with pics, since I doubt there will be a visible difference that will show up on film (or pixels in this case).
PS: I think the bottle sucks for application, the big opening doesn't lend itself very well to applying IW sparingly. I took a 2 oz bottle I had left over from an old Zaino order and put about 1- 1/2 oz of IW in that...much better.