| Unless you're very lucky and the hairs etc are right at the surface then cutting compound won't remove them.
You'll need to flat them back with wet and dry. With a bit of luck all the imperfections will be in the clear coat. You can tell where you've rubbed through the clear when the paper/water starts to show paint colour. Start off at 320 and work up to 800 before re-clearing. | 
Threaded Mode