There's just no mystery to padding if you start out right.
Cut about half the foot out of an old cotton sock and make it into a golf ball size wad. Put the ball into several layers of cheesecloth and twist it tight like you're closing a plastic bag. Dip it into the shellac then squeeze out all you can against the side of the container. I use those hard plastic drink cups that are a few bucks for a hundred. Start your passes an inch in from the edge of the workpiece and continue to the end lifting off after you've passed that edge, like an airplane landing and lifting off for a 'touch and go'. Then come back the other way. You have the right amount of "wet" if you can feel the pad drag slightly. When the pad becomes stubborn to move, only then go back and re-dip.
The Bullseye I use from the can is a 3 lb. cut. Thin it 2 parts shellac to one part Alky for a finish coat or half and half for a 1 1/2 lb. cut for sealing. With these thin coats you can re-coat after just a few minutes. Hand sand very lightly with 220 after you lay on 2 or 3 coats, then after each subsequent coat.
Sure the paper will clog a bit but thin coats won't "corn".
Nostalgia isn't what it used to be