Welcome to the world of proper
M105 usage. It's a WONDERFUL world.
I actually have been that method (Found it out from trial and error, good to see Kevin uses it too apparently) and have been very pleased with it.
People need to remember that
M105 doesn't play by the same rules as other compounds as it uses a new and unique non-diminishing abrasive. So, using a little logic one can find ways to get more time out of the product by keeping it wet, and therefor keeping it working.
There is also a way to buff
M105 dry, or essentially completely off of the paint and if done properly it leaves a fantastic finish and virtually no removal of product is needed...but this requires a perfect blend of technique, weather, and cooperative finishes/pads. (and a rotary)