Make sure you do.  It sounds like a lot, but its not as bad as it sounds. The more you put into it the better it looks, that doesn't always mean more time and effort though just using the right tools and products will go a long way.

Heres a couple photo's showing results.

The 8940 in the link above polished with PF2500 and CCS Foam on 3401.







Agco Polished with FG400 and wool on rotary. 








Versatile done with FG400 and wool on rotary.  To get it back to deep red I think it would need some sanding but it came out pretty nice.






Clear Coated semi (aftermarket paint) with FG400 and CCS foam on rotary.






Clear coated Tractor with FG400 and wool on rotary. Very bad manure etching into the clear coat.




Not much correcting done to this paint but here's a beauty shot after polishing with FG400 and a Hydrotech on the 3401 then coating with Opti-Coat. This picture was taken a couple weeks later after washing off some manure and mud. Comes off effortlessly and the water sheets off right away. I hadn't done the fenders at this time and the mud would not come off of them as easily and the water would not sheet off forming a layer of ice almost immediately as it was very cold.  Great stuff, helps to have good paint to put it on though. Fendt does a great job with no orange peel and a nice clear coat.