It looks the same, if not worse in the morning. The surface is rather rough too.
Now i got to wait till i get back home at night and do another round of polishing (this time like you said, with less water).
I can't speak for all suede spray, but I use nanoprotector on all my suede footwear. It works remarkably well, and if there is a negative impact I have not experienced it.
Remember this, not all oxidized oils will rancid. Boiled linseed oil, after oxidation, turned into a glossy lacquer coat. Cod oil in waxed calf tanning served a similar function, where the consistency gel up like a wax. Whale oil is essentially liquid wax (same property as jojoba), so, you can find some sense there.
Come to think about it, chances of rancidification is actually lowered when the oiled leather is sealed with a wax.
Found this article that may favor your position. However, bear in mind that it takes environment condition, time, and other contributing factors that could lead to rancidification, as addressed later in the article.
And thus explains why raw oils are always associated with vegetable tanned hides...
Would probably be sperm whale oil, because that was the whale that they killed most back then. Sperm whale oil was once used in Horween CXL recipe.
I think the way they processed the whale oil made it susceptible to rancidity. If I'm correct, then whale oil, with its properties no different to jojoba oil, should be a liquid wax. Curious when it gets here.