Our patron John Holbrook spoke of this technique some years back before he started WTF. As said in reply to your introductory thread, I've never ventured down Scotch Brite Alley. The thought is akin to a horological nightmare.
I managed a couple of Pizza Huts some 35 years ago and we used Scotch-Brite to keep our stainless steel oven doors looking good. The doors start out as shiny and the Scotch-Brite renders a brushed finish that doesn't show finger prints as much and of course the Scotch-Brite makes cleaning burned-on food much easier.
I'm sure Scotch-Brite does work well on watches, but if you start with a shiny finish, you're not going to have one when you finish with the Scotch-Brite .
Cape cod cloths and any metal polishes are good for the shiney surfaces,the only thing I would NOT recommend is the use of a "Dremmel" as these things can do some serious damage in the wrong hands.
Unlike Terry,Diver 88, I find the sanding pads give a more factory style finish,however I use the 350 grit.The secret is to brush in one direction only.A quick rub with 00 steel wool will complete the job.(Note.Must be 00 or 000 steel wool,not the stuff under the sink.These two are used for polishing timber so are very fine.)
When you are doing bracelets ensure you mask the shiney bits or the brushed bits depending on the finishing you are doing.
Another good item is a fibre glass scratch pen available from jewellery supplies.These are ideal for light spot touch ups.
Another good tip is just leave it alone and only do it once a year as you will get into a habbit of trying to keep it pristine all the time.