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Casewell certainly has the polishes you need. But you need to determine what you need first!

I assume you want the greasless compounds? Fomax is what caswell sells I think?

The cheap buffer/grinders at stores like Home Depot and Harbor freight are exactly that. Cheap. But they WILL get the job done on a budget, and its a lot nicer to decide "I dont want to do...

from what I can tell, its like a fordom jewelry style motor. It would work find for final polish work, but I dont think it will have the "umph" to do any kind of stock removal.