vaughant, while i agree with your method.. i would strongly advise not to use g3 to start with as this is quite an aggresive polish and will more than likely burn through being a beginner. (been there - done that! *Doh*)

I would recommend any of the above light cut compounds just to get a feel for it, and using it around door handles, mouldings, lamps etc.

Scotty - get your self on to http://detailingworld.co.uk/ and do your research, there is ALOT more to machine polishing than just splashing some polish on a pad and away you go! Also make sure your washing properly 2 b-m otherwise you will undo any correction work you do.