GREAT JOB ON WETSANDING THAT GTO
jkjkjkjk haha
I would highly recommend against this. Your factory clear is thin to start with. If you sand it down you will be loosing a measurable amount of clear. IIRC the UV protection that the clear gives the paint below it is in the top portion of the clear.
don't do it unless you are prepared to get it resprayed.
Since it is your own car, you pretty much have unlimited time to work on it. I wouldn't go much more aggressive than 2500 if I was going to do it. 2500 or 3000. If you used 3000 grit it might take a while to do it. Sand in one direction. Straight sanding marks are easier to remove than X sanding marks. On show cars they usually spray on a few extra coats of clear so you can safely level it like Asphalt rocket said. Be very careful doing this if you do. It is worth investing in a Wet Wedge (water fed block) and some unigrit/Nikken papers. Also remember that you should NEVER sand anywhere you cannot get a polisher into safely. All too often you read about someone sanding under their door handle or something crazy like that. 8-10 strokes squeegee and inspect. There is a reason why they makr the paper so fine. It is so you can remove only as much clear as necessary. If you do choose to wetsand it, only use a bucket to soak your papers. (use Meguiar's #00 for lube). Use a spray bottle with a M00 and water solution to wet the surface.
It is really hard for me to explain how dangerous this is through a keyboard. There are pros out there that will do it for you, but I would just say....DONT DO IT...but if you don't listen to me, be careful!