How good are you looking for? There's a long distance between the work of an impatient kid and that of a master builder going all out. Me, I go for "Yeah, that feels smooth, looks good" but I don't go for "Oooh, perfect!"
I fill spiral grooves with
3M foam spackel plus primer. I push it into the groove for a couple three inches then scrape off with a hotel card key or the like, and move on to the next couple three inches. Go a little way at once, because it dries so fast that scraping it off one end of the tube is difficult by the time you reach the other end if you try to do it all at once. Let it dry more thoroughly, which takes about two or three hours, then sand; starting with 320 grit lets you go fast or you can just go straight to 400 because the stuff is soft. It's now ready to prime and paint, rubbing down with 400 grit between coats. I do need more practice with rattle cans and frequently end up with drips and runs which need more sanding; one can get better at that. My paint of choice is Rusto 2X.
I use the same spackle with primer, scrape with card, 320 to 400 grit technique for balsa fins.
For fin alignment, I'm in love with my
Estes grey fin jig. For anything that won't do I make jigs because my work absolutely sucks without them.
I also use the spackle with primer for decorative fillets. Use wood glue or something for strong fillets first, then use that for larger fillets if you want them for looks or aerodynamics. (Aerodynamically, larger is almost never needed in low power size models.) I've been having porosity issues on these fillets which I don't have on tubes and fins. I'm not sure why it would be an issue in one application and not another, but it is; probably something to do with the thickness. So sealing the fillets is a good idea. An extra coat of primer should be all it takes; shoot the fillets, sand lightly, then shoot the whole rocket. I haven't done this yet, yet I'm pretty confident it should work. I bet dope or any other good sealer would also work
I wouldn't put my rockets in a beauty contest up against many of the builders here, unless the contest is judged from 30 feet. By the 30 foot standard mine come out just fine.