Brasso (in 5 litre cans) used to be very popular with the better specialist bodyshops when I was working in a Motor Factors in the mid 70's back in the days of cellulose and enamel paints.
For rapid removal use Farecla G3, 3M 'Perfect-it', T-cut. Don't go mad. Especially if you use a machine polisher!
If you do use a machine polisher the white foam pads remove paint VERY QUICKLY & you would be safer with the soft black ones.
For slower removal - I use a lot of this when finishing paint work after respraying - 3M 'Finesse-it' or an alternative is Farecla G10.
If your paint appears to be faded it is highly likely that the car is a solid red, blue or green. They are well known for it on older vehicles. Once you have cut back the surface using one of the above products you MUST apply a good quality polish or the shiny paint surface that you have just exposed to the atmosphere will rapidly oxidise & go back to the dull faded appearance.
For fresh paint I use 3M 'Imperial Hand Glaze' and for older fully cured surfaces 'Trade Wax'. You will need to get these from a Motor factor as they are trade products & not generally stocked by 'Motorists shops'
On one of our own cars ( dark blue Metro) I generally had to redo it at 5 to 6 month intervals (using 'Trade Wax' on a polishing machine with soft black mop)apart from one panel which I 2K lacquered & as the paint was then sealed from the atmosphere it stayed shiny!
The Farecla link posted by Steve is well worth a look. Details their products and includes how to use them.
I am not a fan of the 'colour polishes'. When they first appeared I was given a bottle by the rep in the correct colour for my RRC. I did 2 panels & chucked it in the bin. Left lots of powdery residue in chips & scratches & I haven't tried it since
Be especially careful if you use any of the compounds on metallics and/or pearls with a power polisher. I see a lot of bonnet damage by DIYers & the usual explanation is that they were polishing away & noticed a little tiny dull spot (usually on a bonnet swage line), so they polished it a bit more and the dull spot got bigger.....
What they have done is polished through the lacquer. The colour coat is matt & is now damaged. The ONLY way to sort this out on a bonnet is to have the whole bonnet resprayed as bonnets cannot normally be invisibly spot repaired. You have been warned
Don't forget that each time you use an abrasive you are removing a layer of paint!