if you want the flat look in an almost maintaince free application try John Deere Blitz Black. It's a single stage semi gloss industrial enamal. Runs about $30 a gallon. Only thing worse than the WD would be if someone used diesel to make old paint shine.
I don't know if I would use steel wool. Tiny almost microscopic pieces of it can get trapped in the primer and can cause a paint job to start rusting once the car is eventually painted. Primer is kool, but if you leave it on too long it will eventually cause your precious metal to rot away!
DUH; like most folks are saying primer is not finish - it's not designed to (nor will it) PROTECT your car. If you want a flat or semi-flat finish I suggest using a urethane paint (single stage) & adding flattening agent to get the desired result. It's not cheap, but it will last... ~ Paul aka "Tha Driver" You braggin' or complainin'?