Let me add just a little to Sedated's good advice and warn you about one thing.
The warning first: I would never recommend anyone use the old-style rubbing compounds on modern clear-coat paint jobs. You will haze the the clear-coat if you do and will have to work like he!! with finer cleaner/polishes to get the hazing out. There are cleaner/polishes that are more aggressive that you can use if the milder ones don't do the job. Rubbing compounds do still have a role to play on old single-stage paint, but even on those, modern cutting compounds are usually superior.
Modern paint cleaners and cleaner/polishes are the way to go. They offer a diminishing abrasive that breaks down as they are worked. So they have a cutting action at first and then a polishing action as they break down. This avoids hazing when used properly. And I agree that a dual-action, orbital buffer is the sanest way to apply them, although you'll have to work by hand for those place you can't get the pad into. Meguiar's #9 is a mild cleaner/polish. On my '06 that came from the dealer with really bad swirling, #9 wouldn't do the job. I had to move up to #83 in some places with #80 as a follow-up and just used #80 where swirling wasn't too bad. Any of Meguiar's pure polishes (#03, #05, #07) will be fine and is actually an optional step. Then follow with the wax.
I use 80% Meguiar's professional line nowadays, although I used exclusively generics from detail supply houses before. If you don't want to go to the trouble of tracking down a detail supply shop that sell's Meguiar's, a really good combination that is readily available in auto parts stores is Mother's two-step Power products. There's a Power Polish Step 1 and Power Wax Step 2.
One other thing ... use mild foam polishing pads, not wool or terry. The cleaner/polishes that are appropriate for application with an orbital (not circular) buffer are formulated to let the compound do the work, not the pad. Real wool is about the most aggressive cutter there is short of wet-sanding.