I always have to add my 2 cents worth (or if you are talking about Renaissance wax), my $20 worth. There is something that I will never understand about this product and that is the cost. I know a jar "lasts forever", but I cannot find any data that supports this product over others. I have a small amount and about the only time I use it is if I want some high quality photos taken. I have a large can of Johnson's Paste was and use that on almost everything.
First, the make-up of these products is basically solubilizer and wax.
Johnson Paste Wax
Deodorized Naptha, 75-80%; Microcrystalline wax, 5-10%; Carnauba wax, 5%; Paraffin wax, 10%
Renaissance Wax
White Spirits, 80%; Microcrystalline wax, 20%
Cost for Renaissance wax is an astounding $10.22/ounce, while JPW is $0.37/ounce.
H Richard is absolutely correct in that wax will be quickly cut by the use of oils and bore cleaners (solubilizers) and to maintain wax protection, you need to re-wax after every gun cleaning.
I found that over the last 20 years or so, a spray with B/C Barricade does the job for me after every cleaning and I can periodically spread out some newspapers and go through my entire collection in less than 30 minutes time. I have never had lifting or bubbling of nickel, loss of finish on blued guns, and they all look the same as when I purchased them.