Unless your paint has coarse scratches, you should not need to compound or wetsand. Compounding is an outdated term anyways. Not many people use true compounds anymore for paint correction. Aggressive polishes and paint levelers are much safer and leave a much nicer finish. Examples of aggressive polishes and levelers include Menzerna Powergloss, Optimum Compound/Hyper Compound, Hi-Temp Extreme Cut leveler, etc. These products can handle some pretty serious paint defects while leaving a finish that usually only needs one additional polishing step to get it darn near perfect. Most of these products work best with a rotary polisher.