A compound finish is a semi-shiny finish, kind of like a polish where the gloss has been knocked off by a high-grit pad. It's still polished, but not to a mirror finish.
There are a lot of compound polishes, most have some kind of abrasive in them to bring up an originally-dull surface. Traditionally, something like 3M's rubbing compound has been used. Like you get at an automotive store. Ball-specific compound polishes have become available in the last couple of years. Storm's Step 1, 2, and 3 are compound finishes, as is Clean 'n' Sheen from Track (nee Powerhouse?), Rough Buff from Brunswick. Lanemasters' "sheen" finish is kinda like a compound polish, as it's achieved by doing exactly what I said in the first paragraph: polish it up, then knock the gloss off with a white pad.
I believe Brunswick has stated that their standard RB finish of 220-grit sanding then RB is very close to a 2000-grit abralon finish.
SH
