If your fingernail catches on it, you will need to first carefully fill it in with touchup paint, then wetsand with 2000 ish grit and then compound/polish. If you fingernail doesn't catch on it, then a heavy compound/polish should fix it.
My fingernail does NOT catch on the scratch. Won't a rubbing compound remove the clear coat? I'm assuming that's what the polish is for...to shine it back up.
No, not unless you use a rotary polish on high speed and sit it in one spot. :bash:
For that scratch, get some Meguiars Ultimate Compound or Scratch X (Walmart, Autoparts stores, etc) and a foam applicator pad and just follow the directions from there. You might have to polish the spot two or three times to get it out, but don't worry, unless you are on steroids, you aren't going to hurt the paint. Then apply some wax to the area, or the whole car if you feel like it. :beer: