So there's a couple plasti-dip questions here that I think I could shed a little light on.
DRG, one method for working with porous/rough materials it to start by spraying on a heavier coat than usual. The spray method, whether canned or from an air gun, typically consists of applying several light, overlapping coats to slowly build up the coverage, which on a smooth surface like metal or fiberglass works fine. As you've found, though, light coats don't alter the texture. Spraying on more heavily and then sanding gently with very fine grit sandpaper (at least 300 grit or higher) will help build up and smooth out the coat, but it may take a few coats to see results, and that means essentially wasting a good portion of your plasti-dip with the constant sanding.
Which leads to the spray vs. brush debate:
Seth, that first paragraph there should give you some idea of what working with the spray-on plasti-dip will be like. If your surface is smooth, spray-on is quick, fairly simple, and leaves a smoother finish. The brush method works better for not-so-smooth surfaces, as it applies thicker coats. You'll also have less waste due to overspray, but you'll still have to deal with the disadvantage of potentially leaving brush strokes, which will need to be smoothed out later or else you risk leaving noticable trails on your finished piece. Another advantage of brushing vs. spraying is you won't need to wear any kind of mask to protect you from inhaling the airborne particles, but to counter that you'll have to either clean your brushes carefully or else have to buy several of them for different colors and/or work sessions.
So in the end, it comes down to preference rather than one or the other being the obvious "better" choice.