You will find as many answers as people you ask...which why there is so much info already here on the forums, and possibly a lack of overwhelming new posts here. Try a search on 'polishing' for starters...
I can tell you what we have opted for...polishing. Once the initial polish is completed to your satisfaction, it really only takes a weekend or two at the beginning of the season to shine it up and add a coat of wax. Another coat of wax at the end of the season and that's it.
IMHO it beats restriping the clearcoat every 5-10 years, because it will fail again, even if only by the rocks that are kicked up. And in order to keep it looking good, you still will need to wax it periodically...
Both will need to be washed about the same...
The ohhhs & awes that a polished trailer receive every time you take it out are worth the effort ~
Shari