I ain't TEE...but I'll take this one for a spin. I got a lot of info from him as well.
FIRST: CLeaning. Depending on the degree of tarnish, you may have to use acid/ aluminum brightener to clean the aluminum before you polish. You can find this at about any auto parts store. If you do, be careful. This stuff is harmful to skin, eyes, and airway. This stuff must be coated/ sprayed on evenly or it will be clean/whitish in spots. You dont have to do this, but it will make it easier.
SECOND: Polishing. You can do it by hand, but it takes a long time and your arm will nearly fall off. I used my old B&D high speed buffer with a wool bonnett and Meguairs cleaner wax. I got about 80% done and the gears stripped. I was having to use a lot of pressure and the old tired and light duty buffer just couldnt hack it. TRUST ME: A buffer will make it much easier. When I got mine done, it honestly looked like a mirror. My first trip to the lake got three comments before launching. One guy asked if I had just picked the boat up. Another guy with a PT185 that was only 3 weeks old was PI**ED. He thought something was wrong with his.
THIRD: Protection. If you dont use something to protect the finish it will return to its previous state. After that first trip, below the waterline looked like crap, even after being rubbed down. Not as bad as before, but bad. Now, nearly four months later, even after staying in a garage when not taken to lake, it is nearly back to where it was before.
TEE used sharkhide to protect it. I believe (dont quote me) he used a roller and foam brush.
http://www.sharkhide.com/index.htm
Good luck, and I am sure TEE will chime in with some wiser info and some pics.
Trust me, you will be very pleases after you polish it. MAN it looked GREAT. Just use the sharkhide or you will be crying at the ramp like I did...LOL