Someone may have mentioned this, but you may consider getting a 5" BP and using 5" pads if you don't already have a bunch of 6" pads. 5" pads will get you more cut more quickly, and arguably, a better finish - plus it's easier to get in tighter areas. If I had to suggest a "go to" combo of pads/compounds for an imola red BMW, without seeing the paint I'd say...
16 oz Menz FG400 (see above, jjw2331 is right on about it).
~16oz Sonax Perfect Finish (didn't see anyone mention this one, it is incredibly easy to use and leaves a very, very nice finish... very easy to remove from the paint too, and almost no oils like some of the menz finishing polishes). Megs 205 is a good alternative.
~6 megauirs microfiber finishing pads (same mf as cutting, different backing, they dont delaminate as much)
1-2 lake country white or black polishing pads; either with PF should clean up the haze from FG400. I don't prefer the LC ones but they are easier to get than the Rupes pads.