Generally, the better your alignment the better your final images. If you are too far out the autoguider may not be able to keep up, and if the DEC axis is always correcting in one direction (as it will when your polar alignment is out), the your images will slowly but surely rotate through the night, so that they can be difficult to align nicely (or even at all) with each other when you stack them.
The good news is that if you have an autoguider, then you can use it to speed up your polar alignment. Have a search on IIS for polar alignment with PHD or something like that. There are a few good resources on the internet if you hunt around also.
Cheers
Adam
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