It's a little tough to tell exactly what it is really like due to the photograph of that particular metallic color.
If you can feel the scratch, I don't know how well machine polishing is going to be. It just might be a candidate for wetsanding . First starting with 3000 grit sandpaper. Meguiars unigrit is the product that comes to mind.
You would need to machine polish out the sanding marks.
As for the chip, the Langka might make it look half decent.This is close work, definitely do not rush.
If you want to make an over-the-top project out of it :naughty you may need to get some paint mixed up to match your paint and get a hobby level spray paint gun. ( I believe both Micromark.com and Eastwoodco.com sell them : Paasche Airbrush) You could punch a hole the size of the chip in a piece of cardboard, tape it to the finish and take your time and build layers with the paint spray gun. Complete the last pass or so by topping off the spot with clear coat paint. This is a tedious task that will likely take the course of a few days to complete. In the end you may have to use th Langka or very high grit sandpaper to level it out perfectly but from what I hear, it is possible to attain incredible results.
Whatever level of action you choose to pursue, I'm confident the appearance will improve.
