Great explanation Joe.
Daniel, if you mean the Humbrol acrylic matt varnish, then it's not bad, but needs a lot of stirring (as all matt varnishes do) to ensure it is matt when applied, and will not leave white streaks or blemishes. (the crystaline additves mentioned by Sweb). BUT! For the very small size of the container, I personally think it is extremely expensive, especially as it doesn't go very far.
I used to use enamel matt varnish, but, like most of this type, they yellow after time. What I use now is Tamiya Flat Base, which I add to Johnson's Klear (Future). By varying the amount added, you'll be able to produce anything from totally matt, thrrough a slight sheen, to semi matt and semi gloss. Only mix enough for immediate use, or a small qauntity that can be stored in a small, air tight jar, such as an empty Tamiya paint jar, rather than try to convert a whole bottle of Klear! You'll need to do a bit of 'trial and error' in order to establish the right proportion of Flat Base to add for the required finish, but as it dries quickly, you can test it by brushing a small amount onto some scrap plastic, even a piece of sprue or similar. If it should dry with the white cloudy streaks mentioned above, then add a tiny bit more Klear, testing again, adding as neccessary, until you achieve the desired finish.