http://www.autopia.org/forum/machine-polishing/105704-wool-what-am-i-missing-5.html#post1114192
So it's a trade off... Using wool to finish is fast and easy. And it'll get out compounding marks, holograms, and light defects better and faster than, say, a white LC foam pad. It'll also leave a darn fine finish. However, as a general rule, you can get more shine and gloss from a foam finishing pad and a fine (like PO85RD) polish. The trade off is that the foam finishing pad/polish combo has zero correction ability; the finish must be compounding mark, defect, and hologram free already.
I two step polish most of the cars that I do. After the correction step, there are normally a few holograms and compounding marks left that have to be removed. So I use the white wool and PO106FF to get out the holos, marks, and leave a great finish. If I'm lucky enough to have finished the correction step with no additional minor correction needed during the polishing step, I'll grab the foam finishing pad and the PO85RD for the last step.
I do have a few (only a few

) high end clients that pay me very well to do their cars. On their cars, I do the same two step, then do a third with the finishing foam and 85RD.
SIP and white wool make for a very good single step combo if you have a real cheap customer. It gets out some pretty good defects and finishes off very nicely. That is one thing that's changed from the post above... White wool and SIP to single step instead of purple foamed. Add a couple drops of 106 to the SIP to extend the working time, make SIP play better, and get a much finer finish than you would with just SIP. It does take away some of SIP's correcting power, though, so don't add too much.
BTW... "White Wool" refers to Edge's white Finishing Wool pad.
Those two posts you guys refer to really do make it sound like I'm contradicting myself, but really it's just a matter of deciding which pad/polish combination is best for the job at hand. Plus, I'm always experimenting with the latest polishes and pads. There are a few posts around here that, when thrown into this mix, would really seem contradictive. But I just can't help trying every new pad/polish combo that comes around.
Sorry for all the confusion.