If you had a completely non-abrasive polish that only was used for gloss with oils and fillers, would it be beneficial to do multiple applications? Say putting multiple coats of No. 7 Show Car Glaze.
With #7 you will just be moving around the layer that is already there, you won't create an extra film build with multiple layers. Saying that, I typically do 2 layers of #7 to ensure complete and even coverage. There is a good article by Mike Phillips on using #7.