finishing with Shelac

I'm finishing a bed and have decided on using shellac and wax for a finish. I've never used shellac before other than as a sanding sealer. Is there any special trick I should be aware of?
I'm planning on two 3 lbs cut coats for the base and one or two 1.5 lbs cut coats as the final finish before applying a paste wax. Sanding with 240 grit between the first two coats and then 320 grit before the final coat. After that steel wool. I was thinking of rubbing it out with pumice and rottenstone before the wax (although I haven't done this before either).
I'm not looking for an absolute mirror finish, but I would like a nice sheen.
Does this sound reasonable?
Jim
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Before you get too far down the 'cuts and sanding', read the following.
http://www.shellac.net /
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Last update: 9/21/03
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