After 40 years of rubbing out paint, I advise you do the followings:
1. Block sand with 400 grit wet or dry paper using LOTS of water and constantly cleaning/ changing the paper. I use a hose with an adjustable nozzle to dribble water on the surface.
2. Let dry thoroughly and look for areas that need more sanding. The surface should be flat and smooth.
3. Re-sand with 600 grit, being even more careful to keep the surface and paper clean.
4. Power buff with 3M Perfect-It buffing compound--it works bewtter and faster than anything else I've used.
5. Finally, after a few weeks, wax the surface.
Jeff
PS: I've had bad luck with any paper finer than 600; it makes scratches, cuts agonizingly slow, and has poor leveling action. The blue car (photographed above) was color sanded and rubbed out in this fashion.
"...reality is not nearly as lovely as the world of Liberal Land. No wonder so many people want to go there." - Tom Sowell