You're definitely on the right track.
One thing about MF is there is basically 3 different styles (there are actually more but I'll just cover 3). You have thin nap MF which is best for polishing, removing wax, windows, interior, and trim. You have plush MF which is best for drying and QD, and you have waffle weave. I'm not big on waffle weave, but that's just my personal preference, some people love them. You really don't want to use a thin nap MF for drying and QD because dirt particles may remain too close to the surface and scratch.
As far as your plastic and rubber trim, QD will not hurt them. I use a protectant for mine. As far as protectants and dressings, I feel there are basically two types. The first type is water based, and most of these are labeled as protectants and usually dry to a satin finish. The second type is oil based, and most of these are labeled as tire products and usually dry to a gloss finish.
I don't use petroleum based products because there is some evidence they can harm plastic and rubber. I don't think this is a huge problem on tires, because by the time there could be damage, it's probably time to replace them anyway. Most water based products use something called PDMS. PDMS is an advanced silicone which is quite safe. It's commonly used in cosmetics, shampoos, and interestingly enough in silicone breast implants.
Examples of water based products are 303, Eagle 1 Protectant, Zaino Z16, and Armor All Original. I use Armor All Original because it's at least as good as all the others, safe, cheapest, and I prefer a satin finish. I use it on my tires as well as plastic trim, and most everything in the interior except for leather.