Gordon,
You most expert advice around here would be from Maine Sail; I think he has a picture tutorial for cleaning and waxing.
However I have a 1997 h40.5 and the blue boot-stripe has nearly always been hazy. Each year I struggle with it and usually run out of time and let that task drop off my list until the next year.
Finally in 2008, I cleared my schedule and was determined to get rid of the haze.
I used an 9" electric buffer with a 3M Superbuff II 2 Plus 2 Buffing Pad model 5701 or 5704 - I can't remember which one. I started with 3M Imperial Compound and found that it was totally ineffective. Same for Finesse-it II- these very popular and expensive 3M products just didn't remove the haze.
Then I tried Presta Supercut Compound (model 134532) that was recommended by a local auto refinishing supply company. This compound IMHO works far better than the 3M Imperial. And it is half of the cost- about $23 for a quart vs $50 for a quart of Imperial.
However, the compound by itself was still not enough to remove all of the haze. It got about 80% but it was not yet perfect.
Here is what worked-
The second recommendation by my auto supply company was to wet sand with 1000 grit and then go to 1500 grit. Then follow it up with the Presta Supercut and wax.
The pictures below show the bow with the original hazing and a small section that was the result using just the Presta compound. The next picture shows the stern with the original hazing. The last pictures show my final result after wet sanding, Presta Supercut, and waxing with Fleetwax paste formula. I only wet-sanded the blue boot-stripe.
It was a god-awful amount of work and my arms just about fell off after a couple days of work for the entire topsides, but I got a lot of praise at my boatyard.