G'Day Bart,
Generally the better your polar alignment, the longer the exposures you'll be able to take without field rotation. If you are happy to take only short exposures at short focal length, polar alignment doesn't need to be super accurate, however, if you want to take long exposure shots, your polar alignment accuracy will limit the length of time you can expose for before the stars noticably rotate around your guide star.
However, since you specifically mentioned the GStar ex... I believe they are capable of image integration with drizzle (
correct me if I'm wrong). So in theory, as long as there is no noticable trailing in the individual exposures the GStar should be able to assemble the equivalent of a longer exposure without trailing and field rotation I believe.
Your guide scope does not have to be perfectly aligned to your main scope, as the finder scope is. Guidescopes are often mounted in adjustable rings to allow them to be adjusted to find guide stars, or you can use an X-Y guidestar finder which changes the optical axis of the guidescope.
Generally, tracking should cope with PE variations, but PEC helps reduce the tracking adjustments.
Al.