In my experience, the best 2 step combo for moderate to bad swirls that i've tried so far is m105/light cut or medium cut wool/rotary + UF/LC gray/DA ( i use my flexDA).
The M105 will take care of most swirls and the UF will clean the rest of whatever hologramming (if any) left by the m105. I don't think you really need a lot of cut for the 2nd step, because the m105 will take care of that. You just need 'enough' cut on the 2nd to remove the hazing/hologram and to 'jewel' the paint. I think the UF is perfect for this.
The M105 will take care of most swirls and the UF will clean the rest of whatever hologramming (if any) left by the m105. I don't think you really need a lot of cut for the 2nd step, because the m105 will take care of that. You just need 'enough' cut on the 2nd to remove the hazing/hologram and to 'jewel' the paint. I think the UF is perfect for this.