I've been using Starbright marine polish with teflon for quite a few years. I don't know if it's a wax or not.
This stuff is to protect a good finish not for restoration. I put two coats on about twice a year and it seems to keep my new boats looking new. It also makes the hulls slicker so that they wash easier. I would not go near my hulls with sandpaper until they were in bad shape with lots of oxidation. I would also not ever paint a cat. The paint looks great until it starts getting dinged up then the old color shows through and the boat starts looking bad.
Mike Hill
www.stlouiscats.com