If you want a proper polish or paint improvement then the power tool is almost a must. Hand polish is ok for topping up an already good finish.
I agree re waxing....I smear it over my hands and apply without a pad/cloth. That leaves a good thin coat to buff off. I buff it by hand with frequent cloth turns/replacements, finishing with a fresh microfibre cloth.
For occasional intermediate finishing I use Autofinesse Triple. Quick detailer also after a wash.
Wipe on.....wipe off.
