Like Mark, I took in a basketcase WEM bass with allsorts of paintwork issues and decided on T-Cut which made quite an improvement. Thing was, I knew the WEM Rapier had a polyurethane paint. If your acoustic has a nitrocellulose lacquer, you’d have to be careful and try a hidden spot to make sure the petroleum-based solvent doesn’t do it some damage.

I work for an Online guitar shop and we use T cut to eliminate scratches. It is designed for cars but really makes small scratches dissapear on glossy finishes – I haven’t tried it on an acoustic yet though

Fender do a 3 part polish kit in association with Meguiars, its called instrument care kit, i bought one and it is very good for very light scratches.