I've seen "almost-chrome". It doesn't bling. You can't see your reflection in a powder coated surface. But, I don't have anything against powder coating... my block and everything else are. At least you don't feel bad about driving the car in the rain when its parts are powder coated. It's a lot less maintenance, but it doesn't score points with the judges when you're showing it.

Polishing stuff costs less than powder coating and it looks a whole lot better. Nothing comes for free, though. You have to touch it up frequently. Polished stuff can nearly be ruined if it gets wet without being dried properly. Road salt ruins polished finishes instantly (bad for FMIC's).

What you do with your parts depends on how you will be using your car. If you're not going to show it, all a polished part brings you is originality. Nobody usually wastes their time doing it to a daily driver (nobody except for me, I polished my civic's valve cover already). It's more commonly associated with show cars and hot rods. It's highly uncommon to find a 100hp 4-banger with a polished anything on it. That's where the originality part comes in to play.