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Spit from an 18 year old virgin, and the ashes from Marlboro Reds. Followed by the wax from a 23 year old honeybee box.
Seriously though, I have had exceptional result from 3Ms "Finesse It" lineup. Search their site, or ask your local jobber.... for wax I prefer the NXT wax series. Just hope you never have to remove that stuff... it BONDS to paint!
For removing sanding marks you're going to need something pretty strong.
I'm assuming you're using a rotary right?
There's a few good lines out there that offer multi levels of compounds/polishing. You will need something with heavy cut at first to remove the marks, then at least two more lesser cutting to refine the compounding you previously did so that you're not left with nasty buffer trails.
For the initial heavy cutting I would recommend a wool pad, after that however I would drop down to something with less cut like a white foam pad and after that an even lesser cutting pad.
3M is okay, also Meg's makes a few good compound and polishes in their professional line but if you have the money I would invest in some Menzerna, try the power gloss for heavy cutting, then step it down to SIP and finish it with Final Polish or Micro Polish.
Check with autogeek (forum sponsor) they should have all the answers for you.