I prefer polished...but only to a certain point. The reason why is because I believe it is a more durable edge, not a "sharper" edge.
I have the equipment to take edges to 0.25 microns (roughly 64,000grit) but the only things I bother taking that far are my straight razors.
I don't care if you use a sidewalk and piece of bathroom tile...if you get the burr off without rounding over the edge, it'll shave hair and is good enough for my quiver. (And I've spend more $$$ on sharpening equipment than archery!)
I'm convinced nobody "needs" anything finer than 3 microns (about 6k grit) unless you use straight razors.
Having looked a lot of edges under a microscope I'll say that if you're worried about your "filed" edges simply make the effort to file with the file pointed towards the rear/nock of the arrow during the push-stroke. As I'll bet the orientation of those tiny tiny teeth play a huge role.
Why do I consider it a moot point? Not from game experience. It's more personal than that. I've been cut with 220grit edges and I've been cut with 64K grit edges. I'm telling you, if the burr is off and you've managed to NOT round-over the edge, it's deep and painless...for awhile.