Here's mine. The nuvite literature says that the light grades of polish won't bother paint or vinyl edges. I think some folks tape off the paint when they are using more aggressive polish grades though.
I don't believe you should compound polish paint or vinyl edges - the compounding is pretty aggressive and from what I understand is only for virgin metal (or maybe scratched or neglected surfaces). For compounding I would definately tape off. I did my compounding prior to paint and graphics. Since I just got mine done, I haven't re polished yet. I'm sure some more experienced folks will chime in. I plan to re polish about once every 6 mos. with just the random orbiter - we'll see....