I've moved away from using nail polish for insulating around the board.
Using a conformal coating on both sides, is faster, better and costs alot less.
(For New Zealand members) You can pick up a can at JayCars for about $12NZ, and should do 10+ boards. Which is alot better than the $25NZ each board that nail polish was costing me.
Just take off all the heatsinks etc, tape it out and spray! It's that easy.
I don't cover the vreg's around the socket, I spray over the top and clean it off after (I find this faster) the cleaner is sold right next to the conformal coating (For NZ members shopping at JayCars)