Auto body repair & detailing: small chps and really bad dead paint sections, old paint, rubbing compound

Question
I bought a 41 Ford, I can't afford to get it painted this year.  I would like to make it look as good as I can.  I have a lot of small chips in the paint on the fenders, and the paint on the trunk and hood are really cracked and dull.  Anything I can do to make it at least look decent.  I have a buffer and tried a really hard wax and cleaner wax but not really a good result.  Rubbing Compound or polishing compound?

Answer
Bob, you are fighting an uphill battle. You can try 3M super duty rubbing compound, but you will have lmited success. The paint has  oxidized and checked (cracked) so it's totally at the end of it's life. Even if you bulldoze a shine into it, a few afternoons in the sun will bring the chalking right back. The paint is going through a chemical change, and it's irreversible- it's also expedited by sunlight. When you have it painted, be sure to have all the old paint removed. The old paint will ruin the new topcoat if you don't. Bill