No need to kidnap! I'm an annoying travel companion, unless, of course, you knock me out. Just stop at Burger King along the way, please.
Anyway, Cortez is very much correct: the finer you sand, the more of a natural gloss you get, making the actually "polishing" process all the more rewarding. Basically, increasing the amount of grit levels the porous areas of the wood to a more homogenous balance, bringing the wood grain and natural minerals into a balanced state. But enough of the Scientific America stuff.
This is my process (Note: this is for a complete refinish):
1. Sand at 250 grit to remove imperfections, open the pores for staining;
2. Stain and wipe away excess;
3. Sand at 500 until I get a grain display that I like, knowing that the remaining process will make it lighter;
4. Buff with #0000 steel wool to balance color
5. Sand with 800, 1200, 2000, 4000, 6000 and 12000 (You can get a cheap micromesh kit from Alpha Abrasives)
By the time you reach 12,000 grit you're going to notice the the bowl is already shining. If you have a buffer, here's what I do next:
1. Buff Red Tripoli at high speed (3500 rpm) if I want to darken/smooth the coat more (quick load, 1 second touch);
2. Buff White Diamond (3500rpm) until extremely high gloss is present (quick load, 1 second touch)
3. Load Carnuba (short touch, 1 second) at very high speed (3500 rpm) to apply it hot. Reduce speed to 600-1000rpm. Use a rag to remove some excess off the wheel. Buff until the coat blinds you. Buff with soft cloth between coats of carnuba. I use a sewn Muslin wheel for my carnuba, but some people prefer canton flannel. Personally, I don't like it, though.
If you don't have a buffer, 12,000 grit is the point you'd use your Halcyon or Paragon wax.
If you're not doing a complete refinish, I would suggest starting at no less than 1200 grit. You're still going to lose a bit of color, but anything heavier than that is going to be very noticeable.
It takes some practice, but I've been doing this stuff day in and day out for a good while now. Give it a whirl on a beater pipe. I guarantee with enough practice you'll have it looking $100 more expensive.