I used the 3M Rubbing Compound on my car once, I didn't notice my paint being dull or anything but reading some of these posts you guys are saying that it does dull the paint. Then what's the point of compound to just take off swirl marks etc? But I don't want to sacrifice my shine. So I'm contemplating ever using it again.

 

Its like sandpaper, you use the coarse grit to take out larger imperfections and gradually move down to a finer polish to bring back the shine. Of course if you use compound and just leave it like that it will be dull.