Rapid, accurate localization of gravitational wave transient events has proved critical to successful electromagnetic followup. In previous papers we have shown that localization estimates can be obtained through triangulation based on timing information at the detector sites. In practice, detailed parameter estimation routines use additional information and provide better localization than is possible based on timing information alone. In this paper, we extend the timing based localization approximation to incorporate consistency of observed signals with two gravitational wave polarizations, and an astrophysically motivated distribution of sources. Both of these provide significant improvements to source localization, allowing many sources to be restricted to a single sky region, with an area 40% smaller than predicted by timing information alone. Furthermore, we show that the vast majority of sources will be reconstructed to be circularly polarized or, equivalently, indistinguishable from face-on.