it's great if you use the Professional/Mirror Glaze line that comes in light brown colored bottles. there's a few different grades of cleaner, i.e. swirl remover, fine, medium, heavy. which one to use depends on the condition of your paint... be especially careful if you go with the medium or heavy versions as they are more abrasive. you may even need to follow either of those with a finer grade compound to remove any swirls depending on your paint.
the consumer grade stuff in the red bottles isn't nearly as good, I wouldn't bother.