QUOTE(bgray @ Jul 21 2007, 05:46 PM) [snapback]335937[/snapback]
Use water or mineral spirits as a lubricant.
And then from there, I like to use a plastics polish, and a light wax.
You're 90% there.
First - don't use mineral oil on plastic. Maybe on glass, but in plastic, water is the better option.
With any abrasive, you're removing material. The coarser abrasives remove material faster, but leave scratches behind. As you move up through the finer grades of abrasive, the material is removd more slowly. Each grade still leaves scratches behind, but they are much finer, and the surface smoother, so you don't see the scratches. Micromesh 12,000 is one of the finest abrasives. Even plastics polish contain very fine abrasives, but they're fine enough that they leave a very smooth finish.
The idea behind using water with wet-or-dry sandpaper (like 1200 or 2000 grit) and Micromesh is two fold. 1] To provide a lubricant so that the material cuts better. 2] It allows the removed material to float away, and keeps the abrasive from clogging with the material being polished.