Sorry for all the newbie questions.  I sprayed my clearcoat late last week and began applying rubbing compound yesterday. My question is this, how aggressively do I need to "rub" the compound in to get the maximum amount of shine.  Do I apply like a paste wax or should I rub it in pretty hard?

Good firm pressure is needed to achieve a nice shine. Much like waxing a car, only harder. Try practicing first until you get the hang of it.