Sharing what I've learned since I'm new at polishing and just did part of my car. I practiced on my truck before working on the fresh paint on my Challenger. I've gathered this info from watching vids on YouTube and reading through the various painting forums (my favorite is autobodystore.com.)
There was some trash in the paint so I had to color sand parts of it with 1200 - 1500 grit to get rid of the nibs and orange peel. After that I progressed up from 2000 to 2500 grit to get a semi-smooth finish. You might need to do this step if the scratches are deep, else skip to the swirl removal/polish step.
For products, I bounced between using Sure Finish and Mystic Cut. I liked these since they can both be used from scratch removal to polish.
Removing scratches: I seasoned the wool pad with a little water, put a ribbon of compound on the paint, spread it around on the paint and pad before turning the polisher on. I set the polisher speed to around 1000 rpm, turned it on and worked the compound into the paint. When finished the paint should be smooth (no sanding scratches) and have some swirl marks.
Some key points:
Tilt the polisher so that the inside edge of the wool pad is doing work, think 9 - 12 - 3 o'clock positions
Start off on a 2x2 foot area, remember the process that was used so it can be duplicated. Repeat until finished.
Keep the pad moving, don't stay in one spot too long else the paint will burn.
Be aware of edges and body lines. Angle the pad to run off edges else a burn through could happen. I was paranoid so I taped off the edges and lines.
Spur the pad between uses to get rid of old compound and loose wool fibers.
Swirl removal: After the wool pad I used an orange foam pad (firm) to get rid of the swirl marks. Almost the same steps as above: apply ribbon of product (not using water) and work the products into the paint and pad. Set the polisher speed to around 1000 rpm, turn it on and polish out the swirl marks.
Key points from the compounding step still apply in the swirl removal step, some differences though:
Keep foam pad somewhat flat to panel, more working area
Start off in 2x2 area
Keep pad moving
Be aware of edges/lines
Spur foam pads with old toothbrush
Polishing: After the orange pad I used a black foam pad (soft, some use a white pad) to polish the paint. Same steps as the orange pad except set the speed a little higher to around 1500 rpm.
I used a microfiber cloth to remove any remaining residue.
I have not waxed the paint yet since it's new.