Craftsman Buffer/ Polisher System: Few beginner questions

So my grandfather is moving and gave me his Sears Craftsman Buffer and Polisher system (very old). It is 9 inches, randomized oscillations from reading the box. The paperwork says its Motor RPM is 3100@ 120V (Bench Speed), 2400 oscillations per minute (no load), and AMPS are .65 (working load). My questions are:

Is this thing halfway decent for a beginner to get started on (I understand its not great)?
Anything in particular I need to watch out for when using this one (too powerful)?
Where would be a good place to purchase 9 inch bonnets? Types?

It looks similar to this picture that I pulled off the web:



Eventually I would like to purchase something more pricey and advanced, but right now is not ideal since I am looking at purchasing my own place. So my budget is very low for a hobby.

 

That style of polisher is designed for applying and removing wax/sealant I believe. Not the type of polisher you need for doing any type of correction. Search eBay and Craigslist for a used Porter Cable 7424 or 7424XP. Should be able to get one well under $100.

 

As far as using it for applying and removing wax, I wouldn't bother. You'll probably achieve nice coverage on large panels, but anywhere else it will be spotty. Not to mention, the bonnet could certainly hide some contaminants that will further damage the finish.

 

pretty much worthless IMO, my neighbor bought one, hated it and returned it.

 

Well thats unfortunate..I was hoping I would be able to get a little polishing experience out of the machine. I did just find out my dad has an old porter cable stuffed away in a box at our warehouse. He says its a polisher/ buffer so hopefully I will have some more luck with that. I will post the model and such once I find out the details. I do know that it uses bonnets though if that makes a difference or not.

Thanks for your responses so far!

 

Problem with that machine is the lack of speed and torque as well as the whole head moves in exaderated motions compared to a Porter Cable and the like, its next to impossible to do anything with it; with exception to maybe applying LSP........ if that