CA will not permently stick to a waxed finish, but does need a sanded clean surface to apply correctly. I use a three step buffing system if I am going to use a wax finish. First is a brown buffing stick, ( to remove deeper scratches) followed by the white, (to remove the finer scratches) and finished with a carnauba stick or auto wax ( to polish and fill any remaining scratches and make your blank moisture proof. You can do this on the lathe running at high speed. Press the sticks against the blanks to transfer material. I use brown paper towling to bring to a shine. Don't apply to much pressure in one spot or you will scortch your blank. Any wax finish will need to be rebuffed after time, as it will pick up dirt and oil from your hands, but it will give you a long lasting moisture proof seal. And for your other question, wax will give you a better shine because jewlers rouge contains an abrasive to remove tarnish and leaves micoscoptic scratches on the surface. If you are using anything other than wood for your blanks, I would not use wax. Use a plastic polish such as One-Step or some other brand made for that material. Many people use buffing wheels. I have them, but see no reason to remove my blanks from the lathe and take a chance of having them catch on the pads and be thrown across the shop. Just my way of doing things. Jim S