I am in the process of learning the technique. To me, the hardest part is to get the feeling of the proper mix you have to add to the pad (shellac, alcohol & oil). Some get away with shellac by brushing it then only polishing at the very end — it's a very forgiving finish that can be applied with success in a number of ways, but french polish will require a bit of practice* before getting it righ.
Mixing your own shellac from flakes is easy and recommended (shellac.net is a popular/reputable source).
Two useful references I found :
• detailed video series on french polishing: http://www.youtube.com/watch?v=L7aXBs2fJgw
• in-depth FP tutorial: www.mylespaul.com/forums/luthiers-corner/121981-french-polish-tutorial.html
Stewmac's guide is a well-put summary of the latter.
*just a few decades, according to some master craftsmen.