Hi Wilfie,
If you're going to use the regular clay and you aren't machine polishing afterwards be really carefull that you don't introduce more small scratches. Keep folding the clay to get to a clean side, use plenty of lubricant - the BH can use just water but it would be worth making up a weak solution of water and shampoo to use, you get more lubrication that way.
To get the best finish pre-wax I would use a filler glaze since you won't be machine polishing. Autobrite have just launched a brilliant one -Extreme Glaze - that isn't expensive (£11) and works well by hand. A wax application afterwards will protect it and you'll pretty much get the appearance of correction (even though it won't be.)
And in answer to the post about the wax that I can't see an answer to - wax seals qthe paint. There is no need to use a sealer afterwards, in fact I would suggest it's better notp to.
Have fun doing it and get some before and after pics up when you're finished.
Rich