This is from a newb so, take it for what it's worth...but I think if you study my comments they'll be worth alot to you.
Take some time and read Mike Phillip's comments on this thread, and every link to other threads he's linked you to here. Read them, study them, and just like the Meguire's #7 give them a chance to soak in. Heck, I'm sure Mr. Phillip's would be happy to touch base with you via PM, or even on this thread if you have questions and/or concerns...pick his brain apart. He won't lead you wrong, and if you do what he suggests, to the "T", that ol' 55 will look bran-spank'n new. Like he says, it ain't braggin' if you can back it up.
You will do well if you let his comments sink in, just like ol' #7. Can't wait to see it when it's done. Just like the owner, don't be in a hurry. This car deserves some TLC.
Bill