Most of us use MAAS which is a slightly abrasive polish. It won't hurt anything to use a polish but they vary in abrasive qualities. So results will vary somewhat. As far as the etching is concerned the etching on some razors is pretty deep so you can actually work the entire blade and have the engraving intact just not as pronounced or deep.
Sometimes the depth of the pitting is so deep you would have to remove it to get rid of the pitting. As for me I get as much stain, pitting etc off as I can and still retain some degree of readable etching.