I agree for the most part. I think some of the detailing will still make it look vintage, but the wax if applied consistently should darken the coat and make those details far less noticeable. I have a Nigel Cabourn x Eddie Bauer down jacket that was sold as waxed. Not nearly as waxy as a Barbour, but it is indeed waxed. I would think it would depend on the outer fabric and the type of wax you use more than anything. I don't think you'd need to remove the down.