The ramp on one of my Colts NEEDED alteration.
It was mis-cut by one of those fine craftsmen at Colt and overlooked by an equally dedicated QC Inspector.
No matter the magazine, or ammunition, it would not reliably feed the top round from a full 7 round mag from slide lock. It would, however, work just dandy with 5 rounds in the mag.
The answer to the original question is a definite 'maybe'.
If your Colt does not work as it should with good ammunition, good mags (and spring), and a correctly tensioned extractor, you might wanna consider other causes.
Mine was feed ramp geometry. It has been fixed. Not by the employees of colt.
My limited experience is kinda like the 'if it isn't broke, don't attempt to fix it' attitude, especially with a Dremel in un-schooled hands. Not much to gain and confusion multiplies if the polishing does not fix the problem.
If polishing is on your 'gotta do' list and necessary for a warm and fuzzy outlook on life in general, use a dab of Simechrome on a tee-shirt, your little finger, and have at it. Maybe for about a mnt or so...once.
Otherwise, I THINK, that if there is a reliability problem, polishing is not a solution, but a contributor.
Name brand 'smiths do it as part of their reliability package.
It may be doubtful if a mirror finish on a feed ramp contributes to reliability, but it sure does look good in the brochures and adds to the 'bottom line' on the invoice.
Polishing should not be necessary for reliability and offers the possibility of more harm than good (especially if not done by a professional).
salty.