A polish can do a number of thing but AG for example will cleanse, fill minor scratches and level the paint off. This is what gives the car its shine. A wax will provide protection for the paint and will give some shine factor but not as good as a polish.
For a top finish wash TBM (2 bucket method) always mit not sponge. Dry with car towel. Then polish and wax. Some folk polish, seal then wax.
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