Pictured below is my favorite polishing tool. It is quick and easy to get into hard to reach spots.
It turns 2400 RPM and is an old powerhouse, as it is nearly impossible to bog down no matter how hard you bear down on it. What I like best about securing the piece to the bench and working from above is that it makes it easy to see what I am doing. I will clean the wheel by running it over a sharp edge between different compounds (like a large, stiff putty knife in the vice). Aluminum is soft enough that you will leave marks in it while buffing, the trick for me is to back off on the pressure for the last pass, just pressing hard enough to take those marks out.
I am not trying for a mirror finish, the last thing I want is to see my face when I look at my bike. But the pics below is what I can get from this machine in about 20 minutes of messing around.
I am sure this would not pass inspection for many, but it works for me. I have spent a lot of hours polishing metal that just didn't hold up in the elements (mostly on my boat), so I figure I gotta balance the looks with what I am willing to take out in the world and use.
Russ