Well I am an avid user of Menzerna products with the Flex 3401 and hybrid pads.
Here are my thoughts.
Firstly in terms of each of the Menz polishes they have a level of cut (rated from 1 to 10) and a level of gloss (rated from 1 to 10), as follows:
SF4500 2 / 10
SF4000 4 / 10
PF2500 5 / 7
PF400 9 / 7
They way I normally approach selecting a product is to conduct an initial test spot with your least aggressive combo - assuming in this case you use SF4500 with a finishing pad... like the black hybrid. If you have removed all the below surface defects you want to, then job done - paint should be defect free and at 10/10 in terms of gloss. If you need more cut, you could incrementally increase the cut of the pad only using the same polish....so say SF4500 / white hybrid.
If you still not getting enough cut, switch to SF4000/ black and then to SF4000 / white if the SF4000/black is not cutting it
Still not enough paint being removed (and thus the below surface defects with them) then step up to PF2500 / white hybrid, then PF2500 / orange
Then FG400 / Orange
FG400 / wool
Eventually you will do a test spot where all of the below surface defects are removed.... and depending on how aggressive you had to get, you will now face a decision about do you conduct a second follow up polish or leave the paint as is and call it a one step.... to my mind this decision will be influenced by things like if the customer paying for a 2 step and looking for 10/10 gloss or is 7/10 acceptable to them, the paint hardness/softness etc
If you had success with SF4500 or SF4000 in terms of cut, then the paint should be at maximum gloss (10/10) assuming your pad wasn't micromarring the paint. But if you had to say use PF2500 or FG400 then regardless of the pad you used, the paint will only be at 7/10 in terms of gloss. So you could then follow this with either SF4000 or SF4500 (both finish at the same level of gloss, but SF4500 cuts less paint in the process) to restore clarity to the paint.
There can never be a set approach to all vehicles so for me, I think it is ideal to have:
A finishing polish (SF4000 if you work on generally harder paints, SF4500 if predominantly softer paints)
A medium cut polish (PF2500)
An aggressive compound (FG400)
Then you get yourself a finishing pad, polishing pad and compounding pad - well many, not just one of each [so for example hybrids in blue wool, orange, white and black].
With this combo of pads/polishes you are able to adjust your level of cut and finish to suit the task at hand, and to date I have not come across a vehicle that I haven't been able to correct using these items.
Hope this helps a little