Craigmri, I would also avoid that compound but for another reason. I use it by hand to polish down touch-up paint and scuff marks and it works very well, but it also works very quickly. So you may want to try something less abrasive on your new, black car before going to a polishing compound like that, especially if you are going to use a machine. The Finesse-It II may cut too deep and too fast to be useful and may cause more harm than good. I had a buddy of mine use either that compound or one slightly more aggressive and he pretty much polished off his clear coat on the hood of his car.
And wannafbody, I must have one of the older bottles of Finesse-It II because the only abrasive in it is Aluminum Oxide. But either way, I suppose that both aluminum oxide and silica quartz probably aren't the best things to breathe when they become airborne during polishing.