Yeah, pretty much.
Do you have a good orbital buffer (not a rotary)? If not, and you want to try your hand (safely) at improving the boat's surface, and don't mind spending some money to get started, I recommend you visit http://www.properboatcare.com. Check out their Porter Cable 7424 buffer and Gel Coat Labs' Micro Polish and Sealant. I use it every 2 years (and use the buffer with just wax the rest of the time), and several others on this and other boating boards do the same, with awesome results.
The abrasive in it is extremely fine - you can't feel it between your fingers - it's just enough to do the most minimal polish job and the orbital action of the machine will not allow you to harm the boat. So, I can't say whether it would take care of your (apparently very slight) oxidation, but if you want to try it yourself, it's obviously best to start with the least aggressive approach and then work up if that isn't enough.
No matter what happens this go around, having this equipment will allow you to do a 1st class job of keeping it like new once you get it that way. It's not cheap, but it's serious equipment that will last for many years and will pay for itself every time you finish polishing/waxing the boat and you stand back and look at it  .
Here's a pic of mine after polishing with these products (note, I didn't have any noticeable oxidation when I started though):
Others will tell you they get just as good a result with Collinite brand products, some of the 3M products, and some of the clay bar products. I don't doubt it, but I haven't used them so I won't comment on them.
Usual disclaimer: I have no relationship with ProperBoatCare.com other than as an extremely satisfied customer.
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