Dennis,
You should remember that all of the buffing sets, Beale and others, are for buffing applied finishes; they are not a substitute for properly sanding the wood and building a level film finish. Remember too, that the compound sticks are made of the abrasive in a grease/wax base, so when you use them, you are also putting wax and grease onto your piece. Many people like the initial high shine, only later to be disappointed when the wax goes dull (as it certainly will) or wears off in spots.
The buffs do their best on closed-pore woods and smooth finishes. Open pore woods like walnut, mahogony, and oak will tend to hold the compound (and lint) and residue in the tiny pits; a look which you may not like.
There are 3 main grits, tripoli, white diamond, and red rouge and then some use a carnauba wax stick to put on a final shine. To maintain effectiveness, do NOT mix the compounds of the same wheel or buff; designate a different wheel for each.
Mark Mandell