It sets up in about 5 - 7 minutes and cures in 30 minutes. You must wear latex or nutrile gloves when applying the stuff. Mix exactly fifty fifty in small solo cups or similar. Make sure the humidity is low when using it, as it is extremely sensitive to water. Mix it, glob some on your lure, work it all over the surface with your gloved hands. You will "feel' it heat up a bit when it starts to cure. (You can also use it to fill in your lead holes), by covering the holes with the mixture and holding your work in such a way that it doesn't drip out of the holes untill cured. You can also "cast" any items you want if you make a silicone or similar mold first.
This stuff gets into the wood grain at a cellular level so what you end up with is impervious to water. You can "fine sand" effectively because the product penetrates into the wood, so even though you might sand away other products, this stuff you wont.
Draw backs... Messy, fairly expensive, once opened you only have a 6 month shelf life. Very sensitive to moisture, keep away from water when using.
Tips... get several lures ready to "cure" at the same time, I try to have a screw eye installed in each blank. Once I have one lure coated, I hang it on a wire - (through the screw-eye) and quickly go on to the next lure. With a working time of 5 - 7 minutes you can easily do several small lures. On larger items - (fish decoys over 10 inches) you may need to do half of the item, mix up some more product and then finish the fish. Once the stuff starts to "cure" (you will know because it heats up in your hands a bit) do not try to apply any more of the product to your work. It is better to wait a few minutes and the finish the piece with fresh stuff.
Good luck... -cmwiggle-
Here is a link to WASCO - http://www.taxidermy.com/