I've had god results...no, spectacular results, really...using CA, but I just finished a pen using the water based poly lacquer from Compliant Systems...the one Wayne mentioned some time ago. I believe it finishes out almost as glossy and deep as the CA. Maybe not quite as glassy but only someone who has used CA 100% sucessfully would notice the difference--it's that small. Certainly no customer looking at two pens--one finished with CA and the other with WB Poly--would be able to see a difference.
What's more, the poly has no fumes to speak of and except for a final curing of overnight (you may need an extra mandrel) doesn't take any longer to do.
I don't think the sanding sealer is quite as "filling" as using CA as a sanding sealer ...I used it to seal a paduak slimline...but several coats might take care of that. The Maguires works good...might even be suitable for a final touch on CA--it's Maguires #3, BTW.
And this should be a durable finish, as durable as CA, perhaps. Only time will tell.
Overall, I was happy with the results. I'm not allergic to the CA fumes but I don't like them. So...maybe I'll try this for a while.