Ah, the joys of wet sanding..
First off, you need to get yourself a package of WET sanding paper. I'd say 1500grit.. Grab a small jar, and soak the paper in water for 30 minutes. Get a sponge, and soak it too. Now, you will need a sanding block, i'd recommend a 2x4, cut to 4" long. Or a sanding block.. but I prefer the 2x4. You then do a little prepping on the surface. Clean it, don't wax it, but just get all the dirt, wax, dust, etc.. off. I'd clay bar the area you want to wet sand first.. that'* the best method to remove all that crap, because you don't want dirt on your paper, scratching your paint, now do you? Now that, that is all ready it is time to sand. Remember that wet sponge you have? Well, grab that, and wipe the surface down. Don't throw a lake on it, but be sure water covers the area completely. I recommend doing a 2x2' square at a time. This way you know what you have done, have not done, and can compare the difference between before/after. Grab some painter'* tape [the blue kind], tape off the section while it is wet [the adheisive isn't going to leave a residue this way, and the water will hold it on]. Now you get to sand. Don't sand too much in one area at a time, nice even vertical and horizontal strokes.. NOT circles. You have to know when to stop [the hardest part of this whole process]. If you sand through the clear, your screwed. If you have a certain blemish you want to remove, strive for removing 50% of it. Stop, look it over, make sure you aren't going too deep, and go onto the rest of the car. The first few times you do this, go slow, take it easy, and if in doubt, stop. Just do it a little the first few times, or until you feel comfortable doing it. I may not have wet sanded my car, but I do a lot of other minor things I paint [mouse, remote, etc..]. If you are scared [and you should be], practice this on something less meaningful than your car.
Now that you have gotten the hang of wet sanding.. now you are going to become a pro. Some of these steps you may need to use even before you know exactly what you are doing.. those will have an (*).
*Wet sanding concaive areas. You will encounter areas that aren't perfectly smooth, I guarantee it. Especially your hood. Now, you cannot leave the sand paper on the block to sand areas like this, otherwise you will go only on the high spots, and sand down much too far on the corners. So, you need to go commando here. Take the sand paper off the block, and put it in your hands.. go slow, and try your best to keep the paper straight. If the concaive area is fairly large, you may be able to put the paper on a small stick [must be straight, of course], and go from there.. but this will only work on STRAIGHT concaive areas, none that have curves.. sorry guys. This step is very difficult, and you must pay an incredible amount of attention while you are doing this.
Polishing afterwards. Now that you have beautifully smooth paint.. you want it to shine, don't you? Well, I recommend clay barring after wet sanding also. Wash the car down nicely.. and clay bar away. Now, it shouldn't have a whole lot of resistance, so there won't be a whole lot of effort required for this.. but just trust me on this one. Be sure to use a NEW clay bar for this.. something without dirt on it, because you don't want to scratch your paint after all that hard work, now do you? After a good washing and clay bar, you get to wash it again, this time however, bring out the best car wash you can buy [what'* that? You've already been doing that? Well good, you are all set then]. To make your car really shine, i'd suggest some professional meg'* wax, however some basic Gold Class will do just fine [$5 or so at Wal-Mart]. To really get that shine on, a professional polish will bring out the life best.. however not all of us can afford that, so hand waxing it is. If you can afford a Polisher [not random orbit.. but a true hardcore polisher], grab the LEAST abraisive polish you can buy [meg'* again]. Polish away, wax away, and.. most importantly of all, take some pics
I am forgetting some I am sure.. so post your tips..