Fish, definitley be prepared to give it a go. However you must not believe for a moment it will not be hard work. It will be dirty, frustrating and also rewarding.
There are quite a number of sticky threads at the top of the Paint & Body section made sticky so people like yourself can spend a fair time reading. It is not just what has been written in those sticky threads, but the questions asked by other members may very well be exactly what you are thinking of asking.
The other thing to remember too is that a lot of experienced guys dont have set rules or answers to some questions. It becomes experience, gut feeling and 'just because' Some guys can get the same result with three different types of sandpaper, because they have the experience to alter their work pattern as required. This is often made necessary due to running out of certain materials, or just plain laziness
🙂
If you are going to strip to bare metal I suggest a fibre backed clean 'n' strip disc. Will go straight on you angle grinder instead of a grinding wheel and about 4 discs would do the whole car. $16-$20 each depending on grinder size. I wouldn't guarantee Bunnings or Supercheap would have them or have even heard of them. You need an abrasive specialist (Yellow Pages under Metal Polishers supplies maybe)
SIA strip discs
http://www.sia-abrasives.com/fibral/en/89E7CE71A9394D11840AD80ABC2B17FD.html