I build R/C models, so I've had a Dremel for years. It is extremely versatile. Should be great for polishing small metal bits.
<strong class='bbc'>Strong Warning[/b] - the Dremel with a little polishing wheel can build up heat <strong class='bbc'>in an instant[/b]. Much, much quicker than a rotary buffer. And even after all these years, I still slip with it on ocassion.
joed1228 - I would strongly advise you to NOT use the Dremel to get the residue off near your emblems and other touch spots. Stick to the q-tips. You could burn throough your paint in an eye-blink.
And I would advise not to use it anywhere where there is a chance of slipping onto the paint. Sometimes the wheel will grab a surface all of a sudden and it will move many inches before you can react.