firstly AG srp has very little cutting ability and youd need a machine to get the best from it so its pointless using it other than a filler.you wont restore faded red paint by using it.you need a dedicated polish,something like menzerna or 3m as your going to need to cut to get the shine back.i really cant tell the difference in the pics other than it looks a less dull red.it has no depth to the paint. you'll struggle to do it by hand and will need a machine polisher to restore.red is the hardest colour to get back to its best. SRP is useful on a car that just needs a quick enhancement detail on a car that has been looked after and wont restore faded paint.
secondly megs tech wax is as durable as suntan lotion.try something like dodo supernatural for summer and coli 476 for winter. supernatural will give you 2-4 months worth and coli will get you right through the winter as its very durable.