I`ve had the 3401, I have some Rupes polishers, I have the 7424xp, but the 1st Gen 7424 is the machine I use most.
The last vehicle I corrected had a ton of branch marring from a hunter driving through the woods. I used my typical green hexadecimal, and ultimate compound on speed 4.5-5 with the 1st Gen, with light pressure.
I`ve had tougher paints that I need to use a microfiber pad with the Ultimate compound.
To get the most out of this polisher, I`d stay away from hard, stiff euro foam cutting pads. I like green Hex Logic/Buff and Shine pads for defect removal. For stubborn paints I`ll use Rupes blue microfiber pads with UC, or M100. I also use thin, dense vinyl backing plates on it, like the 3M 202026 (?), or the newer Meguiar`s plate.
The large open cell pads are more active in helping the abrasives cut into the paint. Because of the softer nature, they`re also able to navigate irregularities in the surface, and still rotate. The stiffer pads rely more on the abrasive only to get the job done. They generally need more pressure to accomplish this, which reduces rotation. Rotation is also reduced when a slight curve or contour is encountered with a stiff pad. The American foams also significantly reduce vibration. I only use the orange foams for one step polishing these days. Something like M205, or SwirlX because they`re smooth on the surface, and finish very well.