I've never used 1000 grit sandpaper before & I don't know how much coarser it is than 1200, but if I had to venture a guess, I would say that the FCRC would be sufficient in removing most of the marring. If anything, it might require an extra application or two. I definitely wouldn't recommend wet-sanding again on the same area. You'd really be running the risk of thinning that area out too much, or even going through the clear and into your color-coat.
When you say superficial scratches from rock chips, are you sure they are from rock chips? b/c most of the rock chips on my car appear as little white dots that have completely permeated the clear-coat & color-coat & have exposed the primer. These kinds of marks obviously need to be touched up and is a very extensive & time-consuming process. If you are referring to scratches than can be easily felt with your fingernail, then FCRC will not be strong enough.
I would say that FCRC is good for medium to light sized SCRATCHES in your clear coat. For medium to light SWIRLS, I usually reach for 3M's Finesse-It II.
Meguiar's DACP = Meguiars Dual Action Cleaner Polish. It's a product that's similar (or slightly milder) than 3M FI-II, but contains a little more polishing oils and allows a little more room for error (i.e. less left-over marring).