Just clearcoat?

I have an old kit molded in a nice blue as a quick
build. Will it look okay if I just clearcoat it?

I would polish it out with a plastic polish

Well, I don't have any, and I was trying to get it done quick, so either paint it like most models, or just clearcoat. Does it really matter?

Does it really matter?

Yes. Unless you just want it to look mediocre, but who knows, you might get lucky and spray the clear perfectly without any dust flakes or orange peel (which would require some polishing anyway)