There are several things. First, yes in my experience polished blade may cut easier, especially dense foods like cheese. Also if your steel is not stainless, polishing or rubbing to hi-grits will help the minimize the surface area and hence it will be easy to clean, it wound hold moisture in dents or scratches, and it wont rust that easy or it will be more clean of bacteria. Acidic foods will affect less when the surface area is minimised...
But I have a couple kitchen knives that are etched in dilluted acid and then buffed with blue compund. They are grey allright, but they seem to perform just like the polished ones...
"einsteinjon" is correct.
Of course we are assuming the edge geometry is optimized... Even it is polished or handrubbed up to 2000 it may perform not so good because of the thick edge and poor geometry of the blade. At least three elements are very important for a normal kitchen knife: finishing should be as high as possible (reduced rust and resistance), very thin edge and or hollow ground bevel (reduces resistance, rises the cutting performance), minimum edge angle should be applied (sharpness is increased). Also we assume HT and knife ergonomy is OK...