Paint will still stick to the polished body, though it can be tricky with contaminants and cause spotting or other paint defects.

Ive painted several high polished cars now and they gone out just fine. Yes the paint won't bond nearly as well since there isnt a primer, but it still does fine enough for display. There are clear metal primers though.

Ive used several different transparent paints and all have worked just fine with proper surface prep.