I did not use a power sander. I wet sanded by hand with a palm sander (no electric). I think sanding the entire tank is preferrable as you will most likely find some scratches that won't buff out and you will have wasted several buffing attempts just top learn you need to sand. Once you get confidence in your procedure, it will go quickly.
I would wet sand those deep scratches first (400, 1000, & 2000 grit).
I would then wet sand an entire surface area with 1000 grit - put some elbow grease into it.
Then repeat with 2000 grit in the opposite direction - again, put some elbow grease into it (the acrylic will look awful at this point - that's OK and good at this point in the process).
After each sand paper use where you change grit - wipe down with a clean microfiber cloth.
I used the novus 1-2-3 buffing compound. Next time I would skip #3 (I was not impressed) - sand out deeper scratches with sand paper as previously mentioned.
I liked novus #2 - use that after your done sanding. Novus has a buffing kit for drills.
I liked novus #2 better than that stuff you get at the auto supply store (Pastix???).
You can order novus on line or most Harley Davidosn stores will have #1 & #2 (again, I really don't think #3 is needed). The novus website will help locate a local place to buy it.
I used the Novus buffing kit but next time I would just buy the buffer from the autoparts store (you can use a larger buffing pad that the small novus kit pads).
Apply the buffing compound (novus #2) with a wool applicator pad and buff with another wool pad.
You may end up buffing each surface a couple times. That novus #2 buffing compound is a chemical sand paper for "fine" scratches. After you have sanded with the 1000 & 2000 grit, fine scratches are all that should remain and novus #2 will work well.
This was not obvious to me at first - you can flip your tank on its side to allow easier access to buff/polish the inside (you don't need to bend over into it from the top).
Hope that helps
Russ