Just my opinion, but if the bearings are already undersized, polishing the crank journals will give you excess oil clearance even if you put in new bearing shells of the same undersize. If the bearings are showing copper, they need to be replaced. And the crank should be reground to the next undersize. That's if you want to get any life out of the repairs.
Yup, this. While the crank doesn’t look real bad, it will take quite some polishing/grinding to get it smooth, and will definitely affect bearing clearance.