There are a bajillion sites for polishing Bakelite:
http://www.google.com/search?hl=en&i...shing+bakelite
I just don't have the time to review them all, but you can start with the above link. Word of caution, some (all?) Bakelite contains asbestos so keep abrasive polishing to a minimum or at least do it outdoors. A simple dust mask will NOT protect you, only one of those Darth Vader units with charcoal filters will help.
Anthony