i use the stuff almost daily for things other than arrows and bows. the quick answer is, absolutely yes - it will be glass smooth as long as the wood is well sealed/grain filled - just like any other kinda wood finish.
for arrows, either doug fir surewoods or typical poc, for me it takes 3 wipe-on coats to seal, the fourth coat is real glossy and where i stop - but another coat will seal the deal. 0000 steel wool buff between coats. don't put on heavy wet wiped coats, just thin wipes are best. the stuff dries/cures pretty quick and all the coats can be done in a day's work.