Wax is a bunch of bs, and merely a money maker because wax doesn't give properly dressed paint any more shine than properly dressed paint.
All of the compounds turn to rock if left on to harden, and all the compounds are the same. 1000 grit paper is 1000 paper--doesn't matter who makes it. Same with the compounds.
The Imperial Microfinishing Compound and the Finess-It seem to be the kings in the professional world. Myself, I perfer Finesse-It, but my preference is a result of my exposure, and all of them are the same if the grit is the same.