Shaky's method is well written.

I've not tried the turkey baster method either, however I have brushed with thinned spar and a foam brush (creates less air bubbles) and the problem is dealing with the varnish around the start and ends of wraps and guides... this is where the varnish hangs up just a bit and then turns into a run when it lets go. Dipping allows you to clean these areas up as the rod is pulled from the varnish.