At the dealership years ago we did the cutting with a wool pad, and the polishing part with a black foam pad at a lower speed. The foam polishing pads don't need crazy rpm to do the job.
When buffing I like to put the low stick blue painters tape over the edges and jambs to help prevent burn thru and keep the compound from going back inside and making a mess. Paint on the edges is naturally going to be thinner so it's best to not work those too much. Even if you leave a little mild orange peel near the jamb edges or the tops of the fender edges etc your eye will never catch it outside in the sun.
