As per a post DavidB started a while back, even regular, semi-aggressive polishing can be a bit much over time. Those of us who keep some vehicle a long time (20 years or more in some cases) have learned to be somewhat conservative about *any* abrasives. There are spots on my Jag that are too thin for further polishing, and I've never used a rotary, or even harsh products, on it.
If you remove defects all the time, you're gonna run out of paint. So be careful with the wash technique
I never use anything coarser than 2.5K and 3k will usually suffice for anything I'm gonna do.
If you take off a lot of clear, at least keep the vehicle out of the sun, especially if it's red or black (the paint will fade without the UV protection of a thick clearcoat). Just because you don't "cut through", that doesn't mean all is well.
A few in-my-experience answers to some of the Qs on this thread:
3M FCRC will really only work on 1200 grit scratches via rotary. But it'll work fine on 2.5-3K ones even by hand.
And it *used* be be that "color sanding" was only for single stage paints. You were "sanding the color coat", back in the day before they topped everything with clear on a regular basis. It was part of the painting process with lacquers, for example.
Yes, sanding is how you remove OP. Note that you'd better do the whole car uniformly or it'll look weird. OP is almost *always* in the clear as the color coat flows smoothly much easier. A painter I know said that "anybody can get the color coat smooth, it's the clear that's tricky".