Jim... don't worry about being new to varnishing... you will get the hang of it.... I also used Schnooner 96 varnish and really liked it.. I liked the smell, the way it flowed, and the way it got more rich and golden with each coat. I think I used about $300-350 on my 16' Seacoaster.
As you varnish, you will notice the surface getting smoother and smoother... Probably the main thing to keep in mind is restricting dust and disruption when you apply the varnish...
Let me know if you want to discuss this more, but I would suggest that you:
1) Buy a box of 25 sheets of 150, 220 sandpaper
2) Buy several 3M Scotch Pads.... like the maroon and white
3) Buy three or four packages of the 3M Sandblaster sandpaper that will clog less and last longer .. like 240 and 320 grit
4) 10 or so Jen Mfg poly brushes (I bought an expensive badger hair brush and never used it) 2", 3 and maybe 4"
5) 10 or so paint strainers
6) 10+ tack cloths
7) You may want to try throwaway natural bristle brushes.. China seems better than Indonesia
Get a package of styrafoam bowls, plastic spoons and plastic straws
The first coats, you can probably put down without sanding in between... I sanded, but I think you can use the scotch brites to haze it up before you apply finish..
When you use a tack cloth, open it up all the way, and then bunch it loosely... then don't press hard on the surface, or you might leave the sticky stuff on the surface. rebunch every couple swipes to get a new collection surface. I tried using mineral spirits on a tee shirt rag, but found that clean tack cloths were the best.
You can wet down your floor, shut all windows, wear clean clothes, don't move much, and keep everyone out of the area for a few hours or so after you apply..
After maybe four coats and a sanding, you will see a white surface, with dark shiny lines and pits... These will become fewer and smaller the more the varnish builds up, and that makes this rewarding and fun. (in a sick sort of way.......)
I would usually open a can of varnish and use a clean spoon or straw to pull out the amout of varnish that I thought I needed into a new bowl... After the varnish in the can started getting a skin on it, I would usually run each draw through a paint strainer and into the bowl.. Putting a sheet of plastic Saran type wrap right on the surface before you close the can, greatly reduces the skinning..
I would barely dip the brush into the bowl and gently stroke it onto the surface of the deck or seat, just enough to wet it and see it turn dark. You can experiment, but if you put too much on a non horizontal surface, it will run easily... even when you think it is perfect, you will come back in a half hour and it will have runned.... this will sand off, or I have even scrapped and then sanded some big runs.... A transom is tougher than a front deck.
Sorry for the long post... you probably got a lot more advice than you needed.
John Hart