I have a 2007 16' also. I've got some corrosion too, not horrible, and I'm dealing with it with "sanding", polishing, coating. I recommend that you read through postings by RobertCross regarding this issue. He's posted lots of detailed info with pictures. I've found his advice to be spot on. About the polishing... he used a 3-step process with 3M rubbing compounds (Perfect-It Swirl Mark Remover #39009, Imperial Hand Glaze #39007, and Perfect-It II #39002) and then a polish with Griot's Garage Paint Sealant. I followed his advice and used the 3M products with great success. I had some decent tree/shrub scratches on the trailer from squeezing into a tight camp site, and after using the rubbing compounds and paint sealant, the trailer looks like new. It's not shiny-polished like you see on the vintage units. It's still got it's original-looking satin finish. The scratches weren't thru the clear coat, so they polished out nicely. I did this all by hand, no orbital polisher or anything like that. I can still see where the corrosion spots were; I sealed them with clear nail polish like RobertCross does, but overall the whole thing looks amazing. It's definitely a maintenance thing... I have to keep on top of the corrosion; it's a PITA, but worth the work when it's all said and done.
I hope that helps.