I've read Menzerna Intensive Polish (PO91L) and Menzerna Final Finish II (PO87M) are preferred for this application. Users claim the abrasives in these formulas break down fairly well when worked by hand. I've used Meguiar's Ultra Cut Compound (M105) by hand and it will correct medium to light imperfections. I would also recommend Meguiar's ScratchX and/or ColorX since they are formulated for hand polishing. However, I suspect characteristics of the paint in question will dictate the level of correction and refinement achieved via hand polishing. Hope this helps.
I have 3M Rubbing compound, IP and FP by Menz, thanks, just seeing what is popular, you never know what might be good.
I have heard good things about Einszett polishes when being used by hand. They break down faster I believe then the Menzerna line although I have not side by side compared them.
M105 with a CCS hand applicator. They come in different grades. European Hand Polish Applicators - Pkg/3
On softer paints, I've had very good success with Menz 203 and a white hand ccs pad like the one SSTG recommended above. Works like a champ in tight areas such as side view mirrors, front air dams, a-pillars, etc.