Paint completely overtakes the finishing of the wooden and the grains of the wood are lost. However this is not a bad thing. A lot of times, you want to do paint on the wood as the paint can handle rough exterior weather where as polish gets damaged quickly. Paint can also provide glossy or matt finishes and paint has many options in colors, shades and styles which are not available in polish. Paint can be done to finish less expensive wood too as the paint would hide the grains of the wood anyway.