Painting 8" channel wood siding

I have 8 " channel wood siding on my house which needs painting. Some pieces have started to show signs that the sun has shrunk and created grain striations. I'm planning on using a wood stain by Floodco. My question is, should I worry about this graining pattern in the wood? The board is in good shape otherwise. I've thought maybe I could fill these marks with some spackle or other type of filler. Sanding? Also, how should I prep this wood siding prior to painting. I've planned to rent a high pressure sprayer to remove the loose paint. Thx.
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I would think the paint could fill the gaps (depends of course) and that would give you the protection you need.
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Alan Smithee wrote:

Neither stain nor paint will fill in weathered/raised wood grain. Stain is supposed to allow some grain to show, but if it is too raised to suit you then sanding (yuck) would be in order.
Read the label on the product for prep/application instructions.
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