That may be the same stuff.Everything on the label looks identical and reads the exact same,except mine doesn't say "Fine Cut".I'm sure they just altered the label as the bottle I have is 2 years old.
Using anything much coarser than this really tears up the paint.The 3M compound does a hell of a job whether it's light cleaning to heavy buffing.I have used Meguires No.84 Medium cut compound.It can be rather harsh.The thing is,if the paint is that bad off,then I just lightly scuff the surface with 2000 grit sandpaper then use the 3M.Makes it a lot easier.And the 3M gets the haze and scuff marks the sandpaper leaves.After the compound,the finish is butter smooth and clean.
The Megs med cut works ok.It's the equivalent of using 1500 grit sandpaper mixed with polish.I guess whatever works best for you.And it also depends on what kind of paint you have....how old...scratches...rust..whited out clear coat...chalky paint single stage paint...how thick of finish is left....peeling..blistering....orange peel ...etc etc.We all have our own prefs..what we like and dis like.I have come to like the 3M stuff as I have used it for so long.I've tried many others,but come back to 3M.Now I have added the Megs Ultimate compound as a finishing touch before waxing.That and the 3M make a good combo.Try the 3M stuff on a spot you havn't touched yet.It's a pinch thicker so you have to work it slightly different than the Megs med cut (which is thinner).But use it a few times and see if you like it.It cuts sharply and can continue to cut deeper,but leaves a much smoother less scuffed finish.Who knows,the Megs stuff may work better for your finish.
There is also a 3M heavy cut compound.I have not tried that but I will assume it's rather harsh and probably not meant for clear coat finishes.like that old red canned Turtle Wax compound...tears the chit out of paint.