You can't/shouldn't attempt to time a S&W or most other revolvers to drop the bolt closer to the locking notch.
Only the older Colt action was designed to be timed that way.
Attempt to time a S&W, Ruger, Dan Wesson, or a later model Colt like a Mark III, King Cobra, or Anaconda to drop closer to the locking notch and the gun will "throw by".
This means that in double action the locking bolt will fail to catch and lock into the cylinder notch and the cylinder will rotate too far.
This allows firing in an unlocked condition with bullets hitting the end of the barrel, or not firing at all.
Notice that the older Colt actions have a much longer leade before the actual locking notch, while all other revolvers have a very short leade.
Mostly what polishing the band around the cylinder does is make the drag line less noticeable and adds a custom look to the cylinder.
You can get the same effect by using a fine grit Scotchbrite pad to give the cylinder a grained finish sideways instead of lengthwise.
Here's two S&W Model 66 revolvers with the cylinders given a grained finish with a Scotchbrite pad. Even though these guns are well used, you can barely see the drag line.
That's simply because the grain runs sideways instead of lengthwise.
Polishing to a mirror-like finish is unnecessary ans is really just to add a custom look.