Hey, Doc, there you are. Seems I haven't heard from you in a while.
Can I comment the risk in sanding out drips comes from sanding the lows
as much or more than the highs. Picture your flat surface turned on its
side. Now you see the drips as peaks and valleys. The challenge is to only
sand down the peaks while hardly touching the valleys, in order to bring the
paint flat for polishing out smooth, (hence the flat stick recommended by Doc and the paint files recommended by Art).
If you sand the valleys, then you buff, you can easily get burn-through,
a common yet undesirable result where too much finish is removed damaging your
finish. Touch lightly accross the tops of the drips and work slowly.
Exercise patience.
Best of luck,