The short version: 105 is probably the best compound available right now. It really is a "game changer". It cuts very quickly, can have a lot of cut if you want it to and leaves a great finish previously unattainable with a compound. Some will go to LSP after. I don't, but that's up to you. You can use it with a wool pad and do some heavy correction, or with a white pad and use it as a medium polish. I use and love the original version that worked much quicker, but the new "DA" version is more user friendly and has more of a working time.
205: Is supposed to be very good with a DA, which will work for you. It's nothing special on a rotary as you have to follow it with something, defeating it's "purpose".
The SMAT (Super Micro Abrasive Technology) that is used in these polishes is great. They use non-diminishing abrasives that don't break down like conventional polishes. You work it until you achieve your desired results and stop. You don't have to make sure that you break the polish down completely, like conventional polishes. It also allows you to use the product with multiple pad and pressure combos making them very versatile.
I will add more later.
Summary: BUY THEM! I can guarantee that you will love 105, and from what I have heard from DA users, you will love the 205 as well. These two products used with a DA should be all you will need for paint correction. Meguiars has outdone themselves on these two.
Troy should be along shortly. He just recently tried 105 after we convinced him at DF.
Added:
For reference, I use the rotary. Like I said before, I use the original version of 105. It will literally cut and finish in two passes! I'm talking 8-12 seconds. A lot of people complained about this, because it is so different than a conventional polish that you spread around and then work. With 105, you "hit the ground running". Set the rotary to your work speed (1500rpm for me) pick the bead up, pass pass, done! It will flash before you can work it if you try to spread it first. A lot of people were mixing other products in with it to extend the working time. I never understood this. I want to achieve the same results in less time. Why would I want to polish longer than I need to? The new "DA" version has a longer working time to accomodate the "complainers"!

It also has a little less cut. It's rated the same, but it's not. The other cool thing about 105 is that it finishes clear, literally. Like there is nothing left on the paint. Also, if you didn't achieve the results that you needed, you can either add a little more product and continue, or you can spritz with some water and keep working. Like I mentioned before, the versatility of 105 is incredible.
Not to make your head spin, but there are also Kevin Brown methods of using 105 with a rotary and a DA. He is writing up a VERY detailed paper with lots of photos to describe it (DA version). A lot of very good detailers have been using the process and getting equal or superior results compared to using a rotary.
From what I gather, 205 really shines when used with a DA. It is adjustable like the 105, depending on the pad/pressure combo used. The gloss is supposed to be very good as well. I know you will be using a DA, but it doesn't work as well with a rotary, which is strange considering the line was designed for pros that use rotaries. It works, you just have to follow it with something. Multiple "big name" detailers that are VERY good with a rotary have all told me the same thing too, so it's not just my opinion. A lot of guys are getting great results with PCs as well JP, so you may not "have" to buy a Flex. The SMAT has really changed the game. The impressive thing is that they have some other goodies coming that will be even more impressive.
Let me know if you have any more questions JP.