first of all welcome to to the forum. are the parts aluminum or steel? i suggest that you start out reading this buffing manual first
http://www.caswellplating.com/buffman.htm secondly you have the right steps with a few exceptions. you can machine sand with a palm sander up to 220 with no trouble, it will save a lot of hand work. then move up to 400 dry by hand, when satisfied with that resand with 400 wet(water and a small amount of mild liquid dish soap). keep sanding wet up to 800. at this point it should look as good as you want it to except the finish will be dull. then you are ready for the wheels and compound. you can use a air or electric drill, die grinder,buffing maching or bench grinder that converted. the wheel and compound you should start with is a spiral sewn and emory. then work that till you get the shine you want. from there use a tripoli and spiral sewn, finally use a loose cotton and white. as for the flitz it would be good for a final buff by hand. lastly to seal i would suggest zoopseal it is the best out. all of this sound complex but it is not that bad. all the supplies you will need are available from our sponser "caswell" and they sell international. hope this help and best of luck.