Yes. You should be removing product residue with an mf after each panel. The polish will/should be broken down, but lubricant and spent abrasives will remain and should be removed.
This way you can see your work. Some people like to use a 50/50 mix of isopropyl alcohol and distilled water after the initial wipe down to be sure that lubricant residue isn't obscuring any marrs. They also like the isa/h2o after the final polish to remove residual polish and improve bonding of lsp.
Another important reason to wipe down with an mf after each panel: it will help you to learn the product better. If you are using too much or working it too long you will see differences in the way it wipes off. I am new to this, too, and this part has taught me a lot about how to use the polish correctly. [Also, different products work differently in terms of work time, etc... you will need to spend time with each one and pay attention to the variables.]
You should definitely be wiping off residue before your lsp. There will be bonding issues if you don't. You don't necessarily need to use the isa/h2o solution--people who don't say they don't notice bonding problems. But that has a lot to do with what they are using in the first place. Endless combinations and techniques... From research, and my own limited experience, I think an AIO is the best choice to follow up your polishing steps. There are a couple of excellent posts around here somewhere about this very issue.
Sorry for the long winded reply.
