woh woh woh why in the hell would you want to remove the anodizing from an aluminum bolt?!?!
1. Lower friction
2. many many many <did you get the many part?) more abrasion resistant than the surface of aluminum
Unless you really have time to waist I would not polish by hand. Use either a bench grinder with buffing wheels and compound or a buffer. If you really want to do the bolt (you already know I think that this is a terrible idea.)
You can spin it on a lathe with 2k sand paper and then finish with compound.
Harborfreight has the for cheap. Most are crap, but will do the job.
You can use a lye solution to strip the anodizing of things like eye covers and such. Don't know the proportions off hand but its on caswells anodizing manual.
Remember you will be removing as much as .001 and not putting it back with anodizing.