A dremel with a felt polising wheel and a flex shaft would be great for the hard to reach and tight areas, other then that a drill and a buffing ball works great, a find a lot of it comes down to the polish, i've had great success with mothers but i also got a chunk of green polishing compound and that seems to work really good. I think its more aggressive so it works quicker.I think i got a kit of different polishing compounds for like $15 at Princess Auto. Good luck and post some before and after pictures.
You should use some real polishing compound. You can make most metal shine like a mirror if you do it right. I think there are white and red bars that i have used with a buffing wheel on a drill. Takes a lot of time for sure.
Hey Omalley go to curtis' house he has a red bar there that he uses to polish some headlights and a buffing wheel. I am coming in tomm so drop by his house and let booger man port and polish that biaaatch!!!!!