I used the 3M kit, and it worked fine. Like most polishing jobs, you get out of it what you put into it. Don't skimp on masking the surrounding surfaces.
The headlights I've done seem to have a hard coating that deteriorates and has to be removed before the underlying polycarbonate can be polished. The hard stuff might just be UV-damaged polycarbonate, though.
Multiple grades of regular sandpaper, starting with 800 or maybe 600 for really crusty lenses and finishing with 2000, followed by some plastic polish, would probably work as well as a kit, maybe for less money.
Now that the lights are polished, I wipe on some 303 when I clean the car. It makes the lights look extra shiny and seems to make it easier to get bugs off.
I've been thinking about throwing a layer of clear coat on the lights, does anyone have a Been there done that?