Rubbing compound is very coarse, I'd be careful with it.
Buffing compound is not so aggressive.
I've heard claims by the better quality waxes about how they will restore old finishes, I've thought about putting them to the test and do some test spots on our old skid steer loader.
I used to wax with just regular Turtle Wax when I got my first truck. I was disappointed when the finish seemed to lose it's luster and I tried some colored wax that was supposed to restore finishes, but it didn't seem to make a difference either. Then someone told me to try something more expensive. I ended up picking up some Meguires Gold Class. Waxed the truck and was upset because when I was done it looked just like before. Then about a week later I realized that my dark metallic blue finish looked like I could go swimming in it. I've never gone back to cheap wax again.