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In theory, it would be better to shape all traffic and then prioritize your voice and video. Real-time traffic, besides having certain bandwidth needs, often has certain timing needs too. Prioritization insures voice and video "go next" when there's congestion. Just policing non-real-time traffic to "guarantee" enough bandwidth for your real-time traffic doesn't guarantee timings. Shaping with prioritization also makes it easier to insure you're getting enough bandwidth for your priority traffic and allows the non-real-time traffic to takes advantage of all available bandwidth.
