Got a dremel, want to try my hand at polishing, tips please!

Compounds do have a lot to do with it.
But sometimes you can over heat the piece by trying to remove any hazing you see by over buffing the area and that will make the piece haze up even more.
 
Bought a different brand of compound and just used tripoli compound on it and it took all the light scraches out and turned out great. Didn't get around to the white rouge yet but everything looks great. Good info guys. Lesson learned, find a compound that actually does what it's supposed to do....apparently they all don't. Night and day difference in my case. Actually made all the hard work sanding worth while.