Dumb question, but...

[imported_Tom]

What exactly, in painstaking detail, are the `no cut` or `finishing` pads used for?

Its great being an enthusiast, see you can ask these questions and not feel like a TOTAL dork..

Its always been confusing to me because most descriptions of a no cut pad will usually say that it can be used to remove holograms or micro marring-and this does not register with me.

[imported_Termigator]

No-cut pads are generally used to spread glazes and waxes. Using LC pads as reference, the gray pad is supposed to be used for glazes & waxes, whereas the (softness of the pad in the order mentioned) blue, red and gold are strictly for waxes.
Of course, you don`t have to go by what the manufacturer recommends. I know a lot of enthusiasts who use no-cut pads with polishes (like 106FF, 106FA and M205) for the specific purpose of taking the gloss/shine of the paint to a new level. This process has been termed "jeweling".
You can always just go to the CMA website and find out more about polishing pads.

[Todd@RUPES]

Keep in mind that most manufacturers of products sell far more product to the professional body shop market then enthusiast and high level professional detailers.

Glazing is a description often used in the bodyshop market to describe final polishing.

Low cut pads are used for final polishing on a rotary buffer as well as applying waxes, sealants, and beauty glazes with a porter cable typically.

[TOGWT]

Zero Cut - usually a very soft foam, and is ideal for applying a glaze or the final coat of wax or sealant. The foam works especially well when applying liquid waxes or sealants because it is firm enough to keep the majority of the product on the paint, rather than soaking it up.

Search "Foam Pad Selection Criteria" -DB by TOGWT