Very nice write up.
I've owned my PC for over 11 years now. I got it from Meguiar's way back when it came as part of a Concours kit of products. My unit is a 7336. The 7336 and 7224 are IDENTICAL polishers except for a balance weight a pad.
When buying a PC you need to get a good quality flexible backing plate and a few pads. Don't buy a cheap backing plate as it might come apart and cause damage to your paint. I like the Meguiar's polishing and finish pads as well as the Lake Country pads. You'll need a couple of each polishing and finishing to start with.
Meguiars polishing pads Softbuf 8006 and finish pads Softbuf 9006.
Lake Country orange polishing and white or grey finishing pads.
A couple tips to add.
• Clay your paint before polishing the first time. You don't wan the pads to pick up any bonded contaminants and marring the paint.
• Keep the power cord off of the paint. I usually keep it over my shoulders and around my back so it can't drag on the paint.
• Take your time and move the PC slowly over a small 2'x2' area until the polish has broken down. Move no faster than an inch a second. Apply 10-20 pounds of pressure to the PC as you polish. More pressure for harder paint, less for softer paint. You might find that you need to do a second or even a third pass over the same 2x2 area to remove all or most of the defects.
• Don't run the PC at speed 6 unless you want to risk ripping up your pads. The pad might stay together when you start using it but as it gets saturated with oils and product it gets heavier and more prone to separating from the velcro as it heats up.
Use the PC with a polishing pad initially at speed 2-3 to help spread the polish evenly to a 2' x 2' foot area then up the speed to 4-5 to work the polish till breakdown. If you apply glazes and wax or sealant with the PC use a finishing pad at speed 2-3. All you are after here is a thin even coat.
The PC is a really safe tool. About the only way you can damage your paint with a PC is by dropping it on your car.
I find a couple of Halogen shop lights on tripods to be really helpful when polishing out defects. Look for quality units that are stable and can extend to 70-80 inches in height. They are more expensive than the $20 units but will reward you with their added height and stability.
The PC is hands down the best detailing tool I've ever purchased. It is built like a tank and outside of a frayed power cord I've never had a bit of trouble with mine and I've used it a lot over the 11 years.
There is a good video of the process here.
YouTube - Car polishing featuring Porter Cable 7424