Some of whats being reported here is precisely why I recommend cream polishes over wax.
High-grade skins are not tanned to look like mirrors. They are tanned and should be maintained to reflect the integrity and beauty of the skin itself. A high gloss shine, to me, cheapens a skin that you paid a lot for to look like what it is meant to look like. Of course this is a cosmetic issue and just my opinion.
Cream polishes and conditioners penetrate deeper into the pores and nourishes the leather leaving it with a healthy, well fed (maintained) look. We all know that when using wax on a regular basis every so often the wax has to be stripped off, the pores exposed and, conditioners applied. Why? Because the wax builds up and seals the pores suffocating the skin not allowing it to breathe.
So, ask yourself after the wax builds up and seals the pores what is it that is really shining? Is it the leather? IMO it's the wax that's shining. So, how can that be healthy for the leather? It's like waxing a car. The more coats properly applied the higher the gloss. But, that's not the paint glowing it's the wax. If you take it a step further.....What's happening to the liner of the shoe?
If you sealed the uppers with wax that prohibits the liners to function as intended. Your perspiration is absorbed in part by the liners. If the upper leather is able to breathe it will help release some of the moisture. If it's sealed by wax the liners will wick the perspiration only to be repelled back to the inside of the upper leather and into the liners.
This is why an upper and -or- lining is more likely to crack or rot using wax rather than cream polish. Add to that the problems you my incur stripping the built up wax.