No choice but to keep going mate.
looks to me like the original coating coming away, if the isocol lifted it then eucalyptus oil will definately do a better job. Your problem here may be the ME - you have to be REALLY careful when using these on an old PF as it will lift the paint also - as soon as you feel some drag on the ME, use a new piece as the drag is the ME wearing at the paint.
Ideally, you shouldnt need to use any elbow grease - the substance you are using should be doing 90% of the work - if its not then use another.
Id be going into this with Euc oil and a soft rag as basically you are going down to the paint level here.
Once finished the choice is yours - liberal aplications of wax or recoat with a clear... but it will need reprotecting