leecm-I'd slow it down to speed five and I wouldn't apply much pressure.
You really oughta find a thorough description of the KBM. You only want to apply a bit of pressure, not a lot, at least with M105. It's OK if things get a bit warm, but you shouldn't be anywhere near "hot".
Don't overdo it! You don't wan that "lighter finish" to be over-thinned clear and I'm starting to worry a little. I'd switch to M205, but this is getting to be pure guesswork, what with my not being there and all.
If you're getting dried polish you're using too much and/or drying it out too much.
Sorry I'm not being of more help...
OK, just saw your subsequent posts and now I'm not as worried about your overthinning the clear.
You only reprime after you've (really) cleaned the pad. Otherwise keep adding *just* enough to work the area. Note you'll have to clean/switch the M105 pad fairly often.
Those dried bits of M105 can cause nasty micromarring. You're overworking the product or using too much or not cleaning the pad frequently enough or working too large an area. Sheesh, that's a lot of possibilities, huh?