I recently purchased from Mothers.com, a paint chip kit. I recommend it if you have some paint chipping. You need touch up paint though to work with this chip kit. What it does it, you can put a blob of touch up paint over the chip, then use the Mothers'solution and it will take all the extra amount of paint off the car. Then your chip in your paint will be covered with touch up paint but much less noticeable.
I bought it like a week ago. Its $20 off www.mothers.com but found this one for $13.50
#43890, "RE: Mothers.com Paint Chip kit" In response to Reply # 1
So you have used it already? Well I tried it on my mom's mercedes 2000 E320 and she had some chips and it fixed the chips quite well. I think it also depends what kind of paint job you have.