Zach,
I've used Behlen's Rock Hard Varnish on 3 projects and the coverage is pretty close to what is on that description sheet. If you are planning to apply it onto an open pore wood, then I'd recommend using Pore-O-Pac (untinted) as they recommend (I used it on some African Mahogany with excellent results). I cut it 50:50 with Behlen's Reducer (better quality than big box mineral spirits) for a sealer coat and applied it with a very high quality bristle brush (badger is the best) in thin strokes with light touch. Like any short-oil varnish, it will bubble if you are too aggressive with those brush strokes -- I keep the brush nearly vertical and never shake the varnish. I normally did the sealer coat and two second coats with very light 320 grit sanding between coats. You must by absolutely dust free or you'll be frustrated with dust bunnies. Ditto bubbles.
Here are some examples on African Mahogany (my Wine Cellar commission) and Bubinga (Countertop commission) (Many more pics in my Gallery). The 3rd project was my first usage -- I took the finish off a maple veneer kitchen table, stained the maple with Cherry SolarLux and applied 3 coats as above. That was done 10 years ago and water still stands in beads on the finish. Hope this helps.