You can certainly do this. I don't know if I would take a day off for it, I'd just do it on a weekend. You could do it in 2 or 3 hours. First, you'll obviously need a quality buffer, I prefer a small, 6 to 9 inch orbital buffer. You'll also need some quality pads and a cutting compound. It's been 3 years since I was a detailer and all I remember is that we used 3M products. I don't remember the names... :x I'll let someone else chime in with recommendations. Remember to wash the car first, then go over it with a clay bar before buffing for best results. After buffing, wait until the paint is cool to the touch (it'll heat up a bit) and hit it with some wax. Your car never looked so good.
It works by taking off the top of the clearcoat, and you're left with a beautiful smooth finish with no haziness, fine scratches or swirl marks. (It won't cure deep scratches) Now, you can screw this up by taking off too much, so practice on your wife's car :lol: Just kidding, but you probably don't want your first experience to be on a car you care a lot about. If you're not feeling comfortable about doing it yourself, you could always take your car to a detailer. A full detail is probably around $150, but it would probably be cheaper if all you want is for him to renew the paint.