"The first is if I set my policing values for my 100mb access ports and i apply my policy to a 1gb uplink port to our core, will this not cause the 1gb port to operate at a reduced rate?"
Could you please elaborate more on the above statement? Whether or not the link would operate at a reduce rate depends on the agggregate throughput leaving the gig port and whether or not they exceed the configured busrt Value.
"Second question, is 10% of the rate a fair value to use for the burst rate? For example 'police 5000000 312500 exceed-act....'"
For most scenarios the following formula will give the best burst value:
http://www.cisco.com/en/US/products/hw/switches/ps700/products_tech_note09186a00801c8c4b.shtml
"To determine the burst parameter, use this equation:
For example, if you want to calculate the minimum burst value needed to sustain a rate of 1 Mbps on an Ethernet network, the rate is defined as 1 Mbps and the maximum Ethernet packet size is 1518 bytes. The equation is:
You may want to use a different burst value only when there is a specific requirement on your network (like an application) that requires the special tuning.