Short answer is fairly smooth with enough filing work. We try to avoid doing any metal filler work, and attempt to convince customers to go with a texture, vs. a smooth gloss finish. I will have to look, and see the name of the product that we use. It's a 2 part compound, and it works much better for powder coating that anything else we have tried.
It's the same concept as bondo, just takes more work to get it nice and smooth.