[nis.k.a.]

I tape all the edges. I cut the tape approx. 1/32" wide. Press the tape firmly so that it stays in place. This protects the edges and allows you to polish the entire surface without having to worry about rubbing through any edges or body trim, etc. Once I'm done with 12000 I remove the tape and hit the entire area 3 times with Tamiya polishing compund. After that the wax. Viola. Since the area under the protective tape was so thin no one notices especially after using the polishing compound.

Your other ? about orange peel before clear. How bad is the orange peel? You can either work the paint level before the clear but personally I would make sure you move the can closer when spraying those final coats.