I'm warning you Thomas, You may end up needing an intervention.
I started with a cheap 1/4 hp grinder to run 3'' buffs, 1 spiral sewn and 1 loose flannel. The first thing I did on that setup was the stainless parking light trims for my 70 roadster (same as the Z car's). It worked great and I was hooked.
You will soon learn as I did that one tool does not a polishing shop make. Yes, I too use a dremel, But mainly to grind and sand tight areas in preparation to polishing and finish polishing very tight spots. Now I own and use an assortment of sanding devices, including a Black and Decker "Bug" sander (one of my favorites), Expanding wheel sanders, Nylon brush wheels, Scotch Brite wheels and 3 motors spinning 4, 8'' buffs and 2 sanding media wheels.
Eastwood and Caswell plating are both very happy with my addiction and are willing to send supplies as fast as I can order them.
My arbors are a collection. The sanding arbor is a 1750 rpm 1/2 hp old Baldor, that I found at a swap meet. It wasn't a grinder motor as they are 3,500 rpm motors, and it wasn't a polishing motor, as they have long arbors for work clearance. I bought arbor extensions to extend the work are out, as far as is safe.
My main polishing arbor was bought at a yard sale for $30.00. It's awesome! 1hp 3,500 rpm, long extended arbors, VERY, VERY heavy homemade welded stand that doesn't need to be bolted down to the floor. It runs a stack of 3, 8'' spiral sewn (for tripoli cutting 1st stage) and a stack of 2, 8'' pillow buffs for the white rouge "Color" stage.
My last addition was also found at a yard sale, I paid $60 for it. It's a 1 hp 3,500 rpm no name (Chinese?) polishing motor, much like the ones a harbor freight, but larger, with heavy, cast ardor extension supports and the typical stand, Which I bolted down. It runs my stainless station with a 8'' sisal buff with emery (cuts out the scratches on stainless) and spiral sewn for the stainless compound.
But, in all reality, the buffing is the last and least step in polishing. The prep grinding and sanding IS where the work really is done. No buff or compound will correct the missed step in the prep.
As an example, take my last project, The water pump for my roadster. It's a sand casted piece with lots of corners and pockets. I spent at least 3 hours grinding, 4 hours sanding, and 10 minutes on the buffing wheels.