That's a great price! They showw these machines on industrial tables with clutch motors. That would definitely give you more power. Here's a link
http://milwaukee.craigslist.org/art/3384965390.htm
Just got a Pfaff 30 and the paint looks very similiar. I tried using the Meguiar's Ultimate Compound and it came out much better but within a day or two lots of the cloudiness came back. Will try the compound again and then use the Ultimate Quik Wax to see if it must be protected to stay looking black. Hope you have as much fun as I did! Congrads on the new project!
Lisa