Nope, I never bothered to polish the coarse edge except for a very few tests that all seemed to indicate it was detrimental. There's no way I can take the time to redo these experiments - the wife would bundle up all my sharpening stones and cram 'em up my backside if I started to disappear every night for an hour or two like I used to.
Funny thing about how I came to favor the coarser edge - I worked my way up to the barber's hone and then started making a few passes on a 300 grit stone to "put some teeth on it". Realized it was a lot easier to just work with the 300 (and rougher) stones directly. IMHO 200-300 grit is just scraping the surface (no pun intended) of what I define as a "coarse" edge. Anything higher is "medium" and everything over 1200 grit is "fine". Your 120 grit should produce good results without polishing. Just do as you normally would with a finer git, namely once you've established a burr on both sides apply a little less pressure and keep going till you're barely using the weight of the blade and the burr is completely gone. Contrary to what a lot of folks assert, it probably won't feel terribly sharp but it will cut very well with a draw. The key (as with any edge treatment) is to eliminate the burr as best you can. Again, IMHO at the very low-grit end of things, using a strop will not improve the performance of the edge and I believe it makes it marginally less effective, you're essentially using a higher grit to clean up the edge, but in this case you want the edge to have as much texture as possible - you're going backwards. I also find it's not really useful for removing the burr beyond what can be done with the same stone you used to grind the edge. I can't speak for the paper wheel treatment - I don't have one to test it out for myself. A last thought, people seem to have no qualms about purchasing different honing materials and learning different techniques for a highly polished edge if they don't like what they have, but very few take the time to seek out the better grinding media or fine-tuning their practices for applying a coarse edge. If you don't think your 120 grit stone is doing what you need it to, try a different one, esp if it's a natural stone - they're not all equal. To me, "sharp" is simply both planes of the edge coming together as cleanly as the grinding/polishing media being used will allow. Beyond that the edge treatment needs to be tailored to the task at hand. For me a pocket utility/tactical knife performs best with an abrasive edge, my camping hatchet on the other hand, is honed to a hair-popping edge and it works great for what I need it to do.
HH