Yes, only one rubber on the post is for a slight chain rub. Mine have some marks where the chain rubbed it on occasion...maybe when it got loose? My polishing method was listed on another post but here it is for you guys looking for it:
My first tip would be to forget the drill and get a good buffing wheel. I have a 6 inch Craftsman bench buffer with 6 inch cotton buffing wheels. You need to get the alumimun hot to let it flow when you are buffing and a drill will not generate that much heat as the RPM's will not compare to the bench buffer. That being said, if you want to use a drill you may get some nice results but not as good as a bench buffer. The first thing you should do is use a chemical stripper to remove the clear. The red rouge will take it off, but it does take a while. It is much easier if you let the stripper get it off for you. But go ahead and experiment with it. The red rouge is a rougher system which will cut faster and deeper. The green rouge will take out the marks from the red. The white will take out the finer marks from the green and give you a nice look. When done some guys clear it, but I never clear as I want to be able to touch it up whenever I feel like it. However, I have never had to touch it up with the wheel. I just use Semichrome or MAAS polish to make it look great again. A caution for you, use safety glasses and a dust mask as it is dirty work. If you get a bench buffer you will also need thick gloves as the parts get hot. Take your time and let the rouge do the work. And use one color rouge per wheel. Do not use the red wheel with green rouge. You do not want to cross contaminate the buffing wheels. I use a Magic Marker to write the color on each buffing wheel so I can use it again and not have to guess which color the buffing wheel is for. Keep in mind that after a while the buffing wheel will get some caked rouge which I get off with a putty knife while the wheel is turning. No big deal...
Here are a couple pics of my results on the side covers and forks. Click to enlarge pic...