This pretty well sums it all up - nicely done, Nick!
The best review of our Rubbing Compound (and Polishing Compound) is at
Meguiar's Rubbing and Polishing Compound review!, but unfortunately the images were not hosted on our gallery and have since disappeared. But the description is well done, and everyone's responses are overwhelmingly positive. From memory we can tell you that the car in question, a black BMW, was truly a mess but it cleaned up incredibly well with these two products.
Remember, though, that this is for hand application ONLY and that means you're going to have some passion into it. This is not a wipe on, wipe off product like a wax would be. Use it that way and you just won't get any results. But it shouldn't mar the paint, or create any fine swirls, like old school rubbing compounds will. What's really important, however, is your technique when using it. If you put a lot of pressure with your fingertips through an applicator pad, you can create pressure points that make application overly aggressive. Just make sure to spread lay your fingers flat across the applicator pad and you'll avoid that problem.