Hi Will
I diluted my first coat 50/50 with the mix and thinners and used a roller, I started with one of those small foam rollers with the plastic centre, and I didn't put much thought into that idea, because the mix started melting the centre out, so then went to a metal cage type roller.
You use very little of this stuff all up, so weight isn't a huge issue with it. I went 50/50, then a little stronger and the final coat was full strength.
I bought 2 x 2 litre packs, because I had other things to use it on, and only used probably 2/3 of a 2 litre pack, plus thinners.
Can't comment on spraying it on, I never really considered it, I suppose with a roller it might penetrate into the veneer more??
Regards