I think the major difference is hand buffing vs. machine. The machine will break down the compound much faster, which is desirable - Add some water to make it go faster.
No it isn't that one. It is the same stuff I used forever to buff out lacquer on cars. I'm not at the shop so I can't get the exact description.
Just finished my Philco 620B both cabinet and electronics. This was my first attempt at cabinet refinishing, not my favorite thing to do. Thanks to the help on here it's done. I'm sure I will improve with time and experience as I know there are a few things I would have done differently. I have the Eton Grundig tuneable loop antenna attached to it that I got from Amazon and it plays really well!