I use ICE on my cladding, but prefer the Professional line of products from Meguiars for the body. I used ICE on my black '82 Mustang last month, and then put the cover on. I couple days later it rained, and left horrible streaks on the finish. I had to "wax" it all over again. It's a 16 year old paint job (Glasurit), so it soaks up the wax. Looks great from a distance.

I found the best way to apply ICE was to apply liberally with the provided sponge, let it "dry" for about 15-20 minutes, and then go back over it with a damp cloth followed immediately with a soft dry cloth. This usually prevents streaking, unless it puddles in a crack somewhere. Works great on good cladding.