Note that I’m in Australia and using Acrylic Lacquer.
I’m getting a ripple effect in my acrylic lacquer clear (Dupont 380S) after buffing.
The clear laid out fairly flat, with less orange peel than on modern cars.
It’s most noticeable on the bonnet (hood) but is also evident on the boot (trunk).

Currently these are the only two areas I’ve looked at closely enough to notice.
After noticing it on the bonnet, I used an 11” durablock with P1200 grit (wet) to attempt to gently block it out. Since there were no visible shiny spots left I thought I had it flat, but after buffing again, the ripple effect returned.
Am I causing this with my buffing.
I have a cheap variable speed rotary buffer with a 6” foam pad (medium cut) running at approx. 1800rpm.

The foam pad does seem to be at its limit at that speed and wobbles a bit.
The top surfaces off the car had two coats of clear about 3 months ago, then lightly sanded with P800 on 6” rubber block, Le Mans stripes painted on and then 3 more coats of clear.
The compound I’m using is called “Mr Buff” by Septone. Not a highly regarded brand but is supposedly the same as an older recognised brand that I’m not aware of.
I suggested to the retailer I should perhaps buy a more recognised and expensive brand but was told not to waste my money.
I have now block sanded the hood again, using guide coat and P800 wet. I’ll probably add some more clear before colour sanding and buffing again. I just don’t want to buff again and get the same result.

I've only ever buffed lacquer with a wool pad. If you are "rubbing" it instead of "cutting" it, you can heat it up and it will reflow (or melt/burn through).