Capt Don swears by Poli-Glow;
http://poliglow-int.com/
Available on Amazon, it is a good solution for owners who are time constrained to remove surface oxidation and a quickee wax job. The product is a chemical process (de-oxidize and wax), so there is no physical process of wet sanding which makes the surface smoother. Ultimately this a band-aide that has to be repeated annually.
I'm a perfectionist, I want the mechanical smoothing of wet sanding and results will last for years (just like your original gelcoat shine did). Main-Sail's method is the bee's knees and the Makita Polisher is the tool for the job, but as an alternative DeWalt Makes a really, really good variable speed polisher/buffer, Dewalt DWP849X. I got mine for around $120, Amazon I believe. There is a less expensive Porter Cable version too. All three of these should use the same standard 7 inch cutting/buffing/polishing foam pads.
For cutting/polishing pads, also automotive waxes & compounds (as well as automotive paints, paint supplies, body work stuff, etc), use this company, great prices and great customer service;
http://www.tcpglobal.com/
(I cheat, their brick & mortar storefront is in San Diego). I never by the 'marine' polishes and waxes, there is nothing 'marine' about them. Automotive detailing products are the same stuff at half the price.