Lots of back and forth on this polishing topic, I think it all comes down to what you YOURSELF are happy with in the end.
I used Bobby's technique (sort of), but I severely underestimated the depth of the scratches on my keg. All I used was the gator fine pad and polishing pad with Lowe's #2 polish, here is what it looked like after each step.
Before anything:
After Gator fine pad:
I was tempted to stop here, almost. It looked a lot better than I thought it would, but boy I'm glad I took the next step.
After polishing pad with #2 polish stick:
Is it as mirror-like as Bobby's or many others on here? Heck no, not even close. But that's fine by me. It looks a heck of a lot nicer than when I started. Also because I used about half the steps than Bobby's method did, I used half the time. 1.5 hours from start to finish for this polishing job.
I might also add, my keg had several small dents in it to begin with, so I knew no matter how much work I put into polishing it that it would never be perfectly mirror-like. For this reason I decided to cut down Bobby's method to save some time, effort, and money. Those gator pads aren't cheap and I went through two fine pads and two polishing pads getting this done (about $30 at Lowe's since I had to buy the backing as well). Well worth it to me!
This forum is awesome, and everyone's input was great as I did my research so I thought I would return the favor for those out there watching and reading from the shadows like I was. Hope you enjoyed it!