There has been no distortion that I've noticed,,, I've only ever polished the outside of the tank though,,, inside the tank could be a different story.
There are many minerals that can discolor/etch the surface of glass ever so slightly over time,, you might not notice it until you polish one area to a brilliant finish.
You have to feather to some extent as you move up through the grit levels or you can create a noticeable 'valley' in the glass where the scratch used to be. If I'm removing a 1" scratch I usually end up polishing an area of about 3 square inches by the time I've finished.
I get my compounds from a jeweler friend,,, he has diamond compounds up to 200,000 grit for polishing newly-cut gemstones. I find 20,000 for the final polish gives about the same finish as the original plate glass on my tanks.
The grit is a paste that you put on a dremel pad,,, run it at the slowest speed and apply steady pressure in bursts of 10 seconds,, be very careful of heat buildup.
You can probably get similar compounds from jewelry or lapidary supply houses. Some come as powders that you can mix with oil/water/solvent.
You might as well have a crack at it if you're considering a new tank anyway.
Good luck