Final varnish application - before or after wraps?

I know there's many ways to finish up the varnish on a bamboo rod and I've read both the Maurer and Cattanach books with give 2 different processes.

My plans are to apply varnish to the stripped down rod via the baster "drip" method. I plan on thinning the varnish and doing 2 or 3 coats. I've built a "dryer" to hang the sections in. Now my question...

I've seen posts where some will apply the guides, wrap them and apply a few coats of thinned finish and call it a day. Others I've seen will apply the guides, wrap them, apply a few thinned coats of varnish to seal the silk and then dip the entire rod guides and all to get that last coat and seal around the guide feet and wraps.

Just curious if I should consider doing one more "drip" after wrapping the guides and sealing the silk and if so, how do you mask off the guides so the varnish doesn't run on them?