3 coats of clear is plenty. First, what color is the truck? How flat do you want it? What is the trucks use?
For something you want people to drool over, something that will be under bright halogens....start with 1000, then move to 1500, then 2000 then rub it out. They make 3000 grit too but I have never needed to use it. 2000 grit and the right compound does the trick. Keep medium, even pressure as you wet sand. Feel free to use mild soap in the water to keep the paper lubed. Also, feel free to wipe and blow dry the truck off after you are done. Look over every inch of it and level larger dust nibs, orange peel, paint drips (if any) and bugs. Do it over and over, til you are satisfied. Take your time.
As far as compounds you will get 10 people and 10 different opinions. I mostly use 3M products to cut the wet sanding scratches. I love how Meguiar's Swirl Remover #9 works. It takes all the imperfections such as marring, swirl marks hazing etc...out of the paint. I painted a hood black for a friend, we had 1000 watt halogens and it was perfect after using the #9. Looked like a dark peice of glass. Follow that up by a nice glaze or their #26 wax, or their NXT wax and you'll be all set to go.
IF it's just a truck to drive around town, beater etc...just hit it with 2000 and rub it and be done.