So here's how I did it as a first timer. I read a lot here, then I guessed. Yep - I completely based my methods on reading these forums and guessing about what would work.
I had a 96 Mazda pickup with 155K miles that was previously owned by a concrete contractor. It was water spot city, and it was covered in light, probably concrete water spots. It also had scratches, scuffs, etc.
I could have started with Megs 205 and moved to 105 if the 205 didn't work. But I decided it had too many deep paint problems to start with 205. Everyone seemed to be removing swirls and RIDS with 105 - why not start with 105 myself?!
I decided to start on the roof. If I screwed it up, then hardly anyone would notice. I did the 105 on half of the roof, it looked very good, but just a bit hazy. Than I hit it with Griots #3 (a gentler polish, closer to 205), then I topped off with Klasse AIO. Man, it popped! I ended up doing the rest of the truck with M105, Griots #3, and KAIO. For a beater truck it turned out great.
My point is you have to guess and test. If you have a beater, maybe start with the 105 in a test area. If you've got something nicer, start with 205, then drop to 105 if the 205 doesn't remove the problems. I guessed correctly that I would need something strong, like 105 to get out the nasty paint problems left after the wash and clay, and I was right.
Anyway, good luck!