Here is an example of what a good polish and wax job will do when done by a professional.....understand that i'm sure this was a few thousand dollars, but i think you can see the difference.
http://www.xoutpost.com/bmw-related-...mw-m5-e39.html
Phil's work is some of the best i have ever seen and highlights how abuse can be corrected (to a point) and what it entails to really do a good job.