To answer a couple questions, I always use fisheye eliminator. Without it, you run the risk of fisheyes for sure, which is a major setback. I have used a paint stick for years for blocking but just lately I purchased a "durablock". Kind of a hard rubber block that is 11" X 3/4" X 1". Comes in other sizes, also. You rap your whole sheet of sandpaper around it and block away. It's easier to hold and less fatigueing than a paint stick. For more rounded areas, take a piece of scotchbrite and wrap half a sheet around it in thirds. This will avoid making any "finger" impressions. Sometimes a sqeegee added in the folds helps make it flatter if needed. Compounding I use PPG DRX 55 fast cut.
I never use higher than 1200 grit. Doesn't seem to take anything off. May have a use, perhaps for sanding scratches, but I think it's just something to sell. If I'm doing a show job, using a lot of clear, I use 500 to start. These higher number papers, 1200 and up, have very little effect. If you don't flatten out the surface by taking off material, you'll have a finish that looks like a rolling ocean. The more clear you put on, the more paint buildup you will have. You have to make the painted surface flat, like a mirror. Did you ever look in a wavy mirror?
I just started with Body Magic. I didn't want to pay $32 for finesse. I used to use Ebony for years, but they went out of business. The last quart I bought was under $10. It turns out, Body Magic is about 3 miles from my house, so I went over and started off with a quart of their finishing polishes for $22. It's pretty thick and you don't have to use much. I'm happy with the product and for me the convenience of picking it up.
And, buy a binks if you want, but I find the cheap guns to work just as well and are cheap enough to throw away anytime they acts up.