porter cable makes the most standard one. dont buy it at Home depot, it isnt the real thing longevity wise although it should work the same.
it is called a Random Orbital.
Griot's Garage sells them as well. This is considered by many to be a very fine product:
http://www.griotsgarage.com/catalog....1004&SKU=10925
Octaneguy's posts explain the vast majority of how to use such a device. He also has a website:
www.showcargarage.com where he sells a dvd of how to
truly use the machine to both polish and wax.
I prefer no machines but then I am an odd bird.
All of it will grind though paint in a polish setting, thats what polish is doing, grinding of clear coats. You really should buy the dvd and look at showcargarage.com place if you are interested in that route.
There is a lot of stuff to read on thisforum about which wax and why, you should study all of that like I did before comming to a conclusion on what brand's system is best for you. Mine is Griot's. Octaneguy uses Meguiars NXT or pro-line. some people who like highest of gloss use Klasse or Zaino products. (i like colour depth and minimal gloss effect, so natural waxes are best for me like griot's)