C, I use a Porter Cable 6" random orbital polisher. There is no danger of damaging your paint with this machine, your thinking of a high speed buffer that can heat up the paint very quickly because of the high RPM and cause a real mess.
If you interested in buying one, check out coastaltool.com, they sell them at a pretty reasonable price. I have heard that Lowes sells them as well but I have yet to see them in my area.
I buy my pads and polishes from a properautocare.com but you can probably find Meguiars locally.
As far as waxes etc., depending on the condition and color of your car, you can find many options available.
I have tried many products and the combination I have found that works very well on my S90 is:
1. Wash and dry (try to use a 100% cotton towel or sheepskin washmitt to reduce adding swirls)
2. If the surface of your paint feels rough or dry, use a detailers clay (the paint will feel like glass afterwords)
3. I use 3M swirlmark remover (for dark cars applied with the RO polisher)
At this point your paint should look very good, now for a wax.
4. I use a acrylic product called Klasse All In One. This goes on easy and comes off easy and will really give excellent results and will last a long time. Klasse isn't usually sold in stores but can be found online (properautocare.com)
5. I put a carnuba topper on the Klasse for the added shine that will really make your paint come alive. I use a brand called P21S (make sure it's 100% carnuba wax, not cleaner wax)
I have tried other brands of carnuba (Blitz, Meguairs) but found the P21S adds killer shine and depth to the paint.
Well, I hope this helped some, good luck