Shaun,
Yes you are correct with your assumptions, you work your way through from rough to smooth exactly as with sandpaper, the figures I was given by Dana were between 5000 and 10000 sq feet per pad. However, he did say that the softer the material you are polishing then the less you will get so, Travertine will use up more pads than Marble because it's a softer stone. He also said that until you get used to using them correctly then usage was high, but although they are more or less the same as twister pads they give a much better finish and in less time.