Here's a bit of exploration in OpenRocket. We'll stay in the subsonic region for this exercise.
Starting with the Dual-deploy example rocket, which shows 3787', 543 mph on an I1299:
Here's what the drag looks like:
Friction drag is more than half of the total drag. Let's see the effect of getting rid of friction drag entirely, by overriding the Cd of the whole rocket to 0.174 + 0.132 = 0.306:
And our new results:
So by removing all friction drag, we went from 3787' -> 6055', an increase of about 60%. That's huge. Of course, in reality you can't achieve a frictionless surface finish, but it gives you an idea how much the friction drag is contributing to your flight profile.
Let's undo the drag override and set the component finishes to "Finished/polished". Looking at the component analysis again:
Friction CD has decreased from 0.509 to 0.349. Let's see the effect on flight:
So changing from "regular paint" to "polished" took us from 3787' -> 4301', an increase of about 14%. That is pretty significant if you're really going all-out for altitude. I'm not sure how close to a perfect "polished" surface most builders can get, but I would venture to guess that
@Nathan for example is pretty darn close, if not all the way there.
You can do similar exercises experimenting with fin profile and other factors.