Major differences.
Personally I hated Magic Shine. It always seemed to dry too fast and was very hard to get off, no matter how quickly I got to it. Never tried the new one, marketed by Powerhouse.
Powerhouse Factory Finish is a great polish, as far as I am concerned. I am 95-99% sure it has no abrasives in it. I have started using it relatively regularly, in addition to using Snake Oil. They are probably my favorite non-abrasive polishes right now. Ebonite and their family of brands uses it over almost any grit level from P1000 to P4000 grit.
"None are so blind as those who will not see."