Armour All is made from silicone, which doesn't allow paint to stick to metal.
That is why the polishes, etc. that body shops use never contain silicone, like 3M's like of products, and Meguair's line of professional products (tan bottles).
However, whenever a car is painted, believe me, they will use a stripper to get all of the silicone-based waxes, polishes, etc. off of the paint.
A good polish will hide a lot of imperfections. Try this first.
Otherwise, $2,000 is a good starting point for a good paint job. The cheap shops, like Maaco, may charge around $500, but the results are horrible.
2001 E430, Bourdeaux Red, Oyster interior.
1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron".