I have used an old Harbor Freight variable speed buffer similar to below for years usually just with the 3M compound shown below for just about every thing I ever needed to polish. This includes old cars, fiberglass boats, airplanes, car headlights, aluminum etc. Typically I use a wool pad to "get her done" quickly.... That said, I do have a couple foam pads and some finer 3M Perfect it compound for the rare occasion that I am trying to get a "perfect" finish on something.
I have never owned one of the dual head orbital type polishers... I am sure they are nice, but the $30 HF buffer has served me well for many years and I would buy another if my 10+ year old one ever dies.