Sounds good for light to medium defects on normal paints... The Optimum polishes I find have a nice long work time by machine, and the abrasives break down to burnish to paint to a lovely sharp finish - as with many polishes on the market when used correctly. Be sure to work the polishes thoroughly to get the best from them.
Your LSP choice looks good to me - though on well polished paintwork, any LSP is going to look good