1. It makes it easier (for me at least) to apply thin coats. Easier on your arms and gets the job done faster. Don't forget to read the PC7424 thread in the Hall of Fame forum. :xyxthumbs If it's really confusing after the first read, don't worry, it starts to make sense after a few passes.
2. I bought mine online at www.coastaltool.com. Best price online from what I recall. Otherwise, people buy them from Lowes or similar type stores.