Polyurethane

We just followed Junell's directions concerning applying polyurethane to the race tracks. 

We didn't go over the race track with any mineral spirits to prep the wood, however.  Just just dusted off the track with a regular cloth to remove any lingering sawdust. 

Then just start adding coats to your track.  Seen the left is coat number two of one race track. 

Apply the poly with the grain, and give it adequate time to dry before applying another coat.  Like Junell we gently sanded the race track between coats after it's dry. 

Increase the coarseness of your sand paper after each coat.  You're not going to be sanding very hard, just a quick once over to remove any bubbles, or snags will be more than enough.

After the 5th coat, we used a piece of steel wool to gently glide over any apparent snags. 

Here's a pic of one race track with two coats of poly applied. 

Your wood will start to show a reddish, or amber color as you apply the polyurethane.

Here's a close up of the arc. 

Here's the same race track above after the 5th coat has dried.

You can do more coats if you want, but this was adequate for our needs.  Both tracks turned out nicely.

I'd suggest coating your race track while completing other projects.  If you have your race track cut out, add a coat of poly and then go work on your rail.  If it takes you a few hours to get your rail finished, you might be able to add the next coat of poly.

Then work on your center insert and your felt cover. 

Granted, the stuff does take a while to dry (especially the first coat), but work on other projects while your race track is drying.  No need to hold up your entire project and sit around watching it dry.

Now it's just a matter of putting your table together.