Question on Full Sets

[Beaumont Miller II]

I think most people would agree that if you had a perfect vintage Rolex that was unpolished with a perfect dial it would command a premium price. If box and papers were included, it would be worth more. Some of my vintage pieces have box and papers and some don't. I like some tried to take advantage of this market to go after the pieces with box and papers included. Here is my question: Just how important are these box and papers compared to the condition of the watches we seek?
Lets take a DRSD in excellent condition, polished some but not overly so, dial immaculate with hands that match the patina on the dial. Who would trade this watch in for one with chips on the dial and rounded lugs from polishing but with box and papers?
Another example: does it make more sense to own a Red Sub with correct dial for the year and perfect condition or to own one that that has flaking lume but with box and papers.
I am sure that price is a factor. In my mind I have decided that it is about the watch first and condition is the most important factor. Box and papers are a plus, but I don't think I want to sacrifice condition to get one with box and papers. A good friend told me yesterday, "You can't wear papers."
I would like to hear your thoughts. Happy collecting to everyone.