The HPC coating: not quite such a 'smooth' finish, in the respect that the cover is bead blasted. As these older covers are all a little pitted, this does not remove the slightly pitted texture of the metal. But the finish is bright. Check some of the pics on my site. The finish is also long lasting, it only needs a soft wipe every so often.
Buffing the aluminium removes the very slight pitting but will eventually corrode, and needs either a clearcoat to protect it, or regular re-polishing to keep the finish looking good. It is hard to reach all the cam cover when the motor is installed.
HPC coating reachs all the hard to get to areas eg spark plug recesses.
For me, I like the HPC finish. I may post another pic of another HPC - coated cover for you.
Andy