I get my waxing, compounding, and polishing advice from MaineSail on the Sail Net forum. His instructions have helped me make faded topsides gleam like new. Here's a link:
Buff Polish & Wax Try these products (for Gel-Coat only not intended for Awlgrip) The Cliff Note Version: Steps: #1-Clean the hull with an acid base cleaner like FSR, oxalic acid or On & Off to remove rust & tannin staining. (only if necessary) #2-Wet Sand by hand 600 (if real bad)...
forums.sailboatowners.com
Based on MaineSail's recommendations, I stick with Collinite Fleetwax. He's done the actual testing of all the best waxes and has no bias.
And, he says no buffer is needed. Just use micro fiber cloths.
If you're compounding or polishing (not to be confused with waxing), then a good polisher/grinder with variable speed down to 1200 rpm or so is best. Random orbital on gelcoat?....no.
If you wax your topsides and aren't satisfied with the results, it's not the wax or the application method. It's the gelcoat. When I wet sanded, compounded and polished my 1996 Catalina 28MKII, the topsides gleamed to the point where the wax gave no additional shine...just protection.
If you're at an age where you want some assistance with the waxing (I'm in that club), would you rather lift a cloth over your head or a buffing machine?
Each spring, I see guys in the boatyard standing on ladders, running buffers. Waste of time. Might as well swing a dead chicken over their heads. The only real path to shine is to evaluate the condition of the gelcoat, then wet sand, compound, polish, and wax.
All that labor isn't everyone's cup of tea. Shine may be overrated, anyway. If I didn't live so close to my boat, it probably wouldn't be as shiny.
So, shy of the entire laborious process, clean it, wax on with the applicator, and wax off with the micro fiber. You'll see some shine, you'll have some protection, and the results will be more temporary than you'll like.