My experience with Construction Adhesive has been very positive. I have skinned boats with Vinyl Coated Polyester, polyester cloth with latex paint, polyester with epoxy resin and paint, polyester with fiberglass cloth/epoxy over the polyester. My best results have been with Construction Adhesive as a sealer and covered with enamel paint.
I thinned the adhesive with mineral spirits and spread with a squeegee, then smoothed with a brush. Two coats and then it only took less than 1 quart of paint to do the entire hull and deck of a 17.5 ft kayak. The adhesive filled the weave and he final result is a smooth, flexible, but hard finish. It also seemed to 'stiffen up' the cloth that still had some 'give' to it after ironing.