I used the wool buffing pad and I used Starbrite
hull polisher/cleaner in a red/white bottle. (Only 'cause it's what I had on hand...)
Seem to work good. Not waxed yet. I applied the cleaner to the buffing pad, not too much or it loads up the pad and makes it difficult to apply. While working the edge of the pad at a medium speed into the boat with the cleaner, working no more than 3'x3' at a time. Once it was applied, I use the buffer full flat against the hull to polish and remove any swirl marks. Then move on to the next area, with overlap. In some spots, I tried to apply the polish by hand then buff...that didn't work too well. I could look at the hull sorta sideways as you clean and you can see the difference as you move on...! You can practice with buffer speed for different areas, etc. Sometimes a little more, sometimes a little less pressure while polishing. Don't go high speed though...also, be careful around the boot stripe or other areas if painted, it'll get on the pad and marr what you have just polished. You can also blue painter's masking tape to help while polishing near different colors. And use a bonnet spur to fluff the pad from time to time.
My boat,32 ft., took about 4 1/2 hours time all the way around after washing.
Don't know if that's the way it's done but it worked for me. Good luck,
Jamie