The answer is really one of taste, but, we would tell you to consider the following factors in your decision making process. Those being the quality of your existing floor, your budget, and the traction requirements.
A floor with lots of repairs would be better suited to a higher gloss shine because the light reflections will serve to hide the various cracks, patches, and possible trench lines. The gloss overpowers many of these imperfections and blends them together much better. On a matte finish any repairs really stand out at you much more than on a high shine finish. We would typically never recommend going below a 400 grit gloss level in either case given the fact that lower than this you're not getting a true polish and persons who incised we do this weren't quite happy with the end result, even though they did save on the costs of not going with a higher gloss.
A highly polished floor would provide slightly less traction than one will a lower shine finish. We went with only a 400 grit polish at the Golden Flame Hot Wings store because of the possibility of grease tracking from the kitchen for example.