If the peel is significant, I'd start with at least 600 ( maybe 400, if peel is heavy) then go to 1200 , then 2000. With 400, don't take all the texture off; just sand until you have small shiny spots left, then go to 600 or 1000. I always wet sand by hand, use only 3M paper and use 3m compound and Trizact 3000 with foam pads at 1500 rpm for compound and 1800-2000 rpm for trizact.