I mentioned this in Raul's polishing thread, but for your first cut try a coarse cotton wheel (Optional) and black emery compound. The black compound it the most coarse and is good for initial cut. I start with the black, then go to Tripoli brown, and finish with White Rouge (white stick). I do a final hand buff with Simichrome and an old flannel shirt (I'm afraid my grunge rock days are over..).
Hope this helps!
(Edit: I re-posted the guide to polishing compounds here:)
Emery Cake: Contains an emery abrasive, providing a sharp, fast cutting action for removal of rust or scale from iron, steel, or other metals.
Tripoli Brown: Brown compound for buffing aluminum, pewter, brass, copper, wood, bone, plastics, painted, and other soft surfaces.
Red Rouge: Red compound for initial buffing, cleaning for a bright luster on silver plated, gold, sterling and other precious metals.
White Rouge: White rouge buffing compound gives a bright, shiny luster to stainless steel, aluminum, iron, chrome and nickel surfaces.
Green Rouge: Green buffing compound for fine color buffing and light cleaning on all classes of metals. Produces a bright lustrous buffed surface.
Blue Rouge: Blue buffing compound for final high-luster color buffing on gold, silver, sterling, platinum, and other precious metals. Produces a bright, lustrous buffed surface.
