It's a whoooole lot of work to do the whole car by hand. I just finished mine (a bad new paint job on a 6 year old car). I had never wet sanded, compounded, or polished anything in my life but proceeded carefully and took my time.
Here's what I learned:
* With 2000 grit, unless you sit and sand with all your might in one 2" spot for 30 seconds straight, you're not going to do any damage unless your CC is already thin.
* I had bad texturing/orange peel. I used 1500 grit with pressure and even then never had any bad experiences.
* salty's comment above about avoiding areas you can't get to with a machine is a good one. Leave at least a half inch of border near those areas unless you're a perfectionist and are going to go back by hand over those areas.
* People will tell you to use a backing pad for your sandpaper. If you keep your hand moving, this really isn't necessary. I did the entire car without a backing pad -- just my fingers and never staying exactly in one spot. If you hose off the area, dry it, and keep checking it, you won't screw yourself.
* Expanding on what salty said above, basically what you will see when you start doing an area is polka dots. The dots will be the color of the car's paint (and still have CC on them) and the surrounding "negative space" will be the CC mountains you have sanded the tops off of. When you no longer see speckles/dots, you have leveled the CC mountains down to the proper lower CC level.
* Once you're done sanding, you're going to need an aggressive rubbing compound + rotary or dual action polisher to take the surface to roughly 3000 grit level. Once this is all done, feel free to take a day or two off
* Then you do the entire car again with a polish (not TOO fine though or it will take ages) and deep clean (clay or whatever) and wax/seal as you like.
Go for it if you want, but... oof. If it's typical mild orange peel, I'd consider living with it.