OK now we're getting somewhere. I'm going to need this palm sander for other wood jobs later so there's no reason for me not to dirty it up, so I went ahead and made several passes on my 120's lid to see what happened. I went 1000-1000-1500-2000. The lid is a bit bowed so there are some spots that it just couldn't hit but that's OK.
It definitely oscillates instead of just going totally back and forth, despite what people at the HD said when I called. When not using a guide to keep me straight it definitely pulled me to the side and wanted to wiggle around some. Not like an orbital buffer/sander, but it wasn't like a self propelled lawnmower either.
Anyway, I didn't care if this screwed things up, so I just did it all anyway. Didn't take long, as it's only about 12x18 inches of space. I should've put a pad underneath it though, because my burnished granite countertop (yes, I did this right in the kitchen) ended up digging these awful marks into the bottom edge from the tool vibration. Whoops.
I especially focused on the same spot in a corner every time by, and tried to get different light angles and to show how the overhead light diffused off the acrylic. Tried taking closeup photos of it but the focus is imperfect at that range. Best I could do:
Photos in order:
1st pass w sander, 1000 grit
1st pass
2nd pass, 1500 - note the little curly-Q markings
2nd pass
2nd pass w/flash
3rd pass (2000) & #1 wipedown, w/flash
3rd pass & #1 no flash
3rd & wipedown corner closeup
#2 buff w/wool
#2 buff w/wool corner closeup
more #2, wiped off with towel
more #2 closeup, wiped off with towel and fingertip
#2 after foam pad. You can see streaks from the towel and my finger
final corner closeup after foam pad buffing with #2
Dave the pictures were awesome. Thanks for saving my butt with those so people would believe me. I think you can see where the sander oscillated a little bit in the middle. Might be from the buffer though.
You can really see a major change in the last four, where that visible seam of sanding marks disappears.
The real difference maker, I think, was switching from the wool pad to the foam one. Not only was it much easier to use with less side splashing and less pressure required to control it, but it seemed to really work better to get into the acrylic.
I am going to have to try that next time. Thanks for trying new things. I know my way was not perfect what so ever.
It's not perfect. On very close examination I can see the little curly-Q sand marks in that corner.
I noticed I would get those curly-Q sand marks when I needed to pat the sand paper down or needed to change the paper. They happen because particles build up on the sand.
But it takes a very close look under direct light. And I suspect that hand sanding and/or more coats of the Novus would completely eliminate it. I'm also curious to see what a quick pass with a torch would yield. (I know flame polishing is great for edges, but what about a very quick pass on the front of a pane? If torches are cheap I will experiment.)
I wanted to try the flame polishing but I was afraid to do it on my tank haha. Make sure you get the right propane.
So... my conclusion as of right now is that if you can get a power sander that truly just goes back and forth (or north/south, however you want to say it) without any oscillation, this is a great approach. Otherwise I think I'd say just do it by hand. Get one of those blocks you can tack the sandpaper into and grip and use that for the back and forth sanding. Then buff, first with wool but then with a foam pad. That made the biggest difference for me.
Big area = Power Sander Small Area = Sanding block or just your hand. That's how I saved time. I did it both ways.
I think I'd also advise using a brand new microfiber cloth to do the final wipedown to clean it off. I feel like my 100% cotton bath towels still leave some marks, maybe even minor scratches... certainly some streaking. The Novus definitely leaves a tiny bit of a film, the kind of thing you can leave obvious fingerprints in. I think microfiber might take this off a bit better.
I tried the microfiber but it was the cheap stuff and it did not work so well. I used a lot of cotton t-shirts and I cut all the seems and sewn areas off.
My other observation is that Novus #2 and the standard 3M rubbing compound (which you can buy in a giant jug at auto parts stores) are, as far as I can tell, the exact same thing. Same color, thickness, scent, consistency, etc.
I agree with you 10000% on this statement. My thing was was I did not know if it had any extra chemicals in it for the paint on the cars or not. I highly doubt it though.
Sorry to turn this into Dave's little experimentation thread, but I figure that between Mike's success on the first try and my goofing around with this stuff, lots of other people can probably learn a lot from this.
Thanks for all your input Dave, and don't be sorry at all. All we are doing is experimenting to find the most efficient, cheapest method to get the job done. Nothing wrong with adding your 2 cents in. Also, my first try was a very long first try so Id consider it a few tries. 
