Porter-Cable 7424P and Meguiar's 3-step.
 

Just did the Meguiar's 3-step on my car, looks better than when I drove it off the lot. Of course, the real test will be when I try it on my supra and miata, both of which have their fair share of swirl marks and blemishes.

Got the Porter-Cable 7424P off of amazon for $113.99 w/ free shipping. Recommended by both Meguiar's (who actually sell a rebadged version of the unit) and Griot's Garage. Dual-action random-orbit, so it doesn't leave any swirl marks.

Porter-Cable 7424P 6" Variable-Speed Random-Orbit Polisher on Amazon

winter,

Had my Porter-Cable for a few years and concur with your findings! Although I use the Griot's garage carnuba wax.