If the panels are tight together, after the glue is dry just back all the screws out and put them away for the next time. Save some more money, make filler by adding sawdust to the glue, stir and fill those screw holes. Don't sand what hasn't been touched; MDF is a great surface for paint as is. Sand roughness with 240 Garnet and primer with 400 wet or dry. That's all you need. If you haven't opened the insulation yet, take it back; a 40 sq ft roll of R-13 should cost about $13 American at HD or Lowe's. Tear off the paper. Get cheap spray primer at Wal-mart auto section, it will reveal imperfections in the panels as well as cutting down on how much paint. Fill the imperfections smooth with a cheap auto body filler, good one by Dupont. Krylon is cheap and good and I really like Rustoleum Professional. Keep on keepin' on!