Depends on the head.
Depends on who does the work.
Generally you'll get about 5-8% cfm increase from it, but it's not a massively noticeable change. There are PLENTY of cars making big power on here (matress, dres old vr4, jamie's cb gsr, etc) that don't have port&polished heads. But that said, it will yield some increases.
There's one guy here in ballarat who stands out above the rest for the quality of his work. Baz can attest to it.