The reason you have to wetsand a vehicle to reduce or remove orange peel is because you have to use a process that will not conform to the gradual elevations in the paint do to the orange peel. A foam or wool pad will contourt to the changes in height particularly as the paint becomes flatter. A piece of sand paper wrapped around a stiff backing will allow the abrasives to contact just the high spots and only reduce those, in effect leveling the paint to a greater degree.
The centripetal force of a wool pad spinning at high speed on a rotary will have similar effect (as the wool strands are pulled taut) but the excess speed used is going to transfer a lot of heat to the paint and remove material quickly.