3M do a nifty little kit containing velcro backed abrasive pads, polishing pad, liquid polishing paste, a rotary drill attachment for the pads and even duct tape. Apparently, 3M noticed that everyone was using their products to make kits up so did their own.
I got mine on that river sounding web site for around £20.
Did a good job on my clouded '02 9-5 Aero lights. Whole job only took about 30 - 40 minutes which included removing and replacing the lights on the car.