My experience with Renn wax is that it's a soft wax mixed with a solvent. It's good for some things, but I haven't been too impressed on steel.
Also, keep in mind, it will alter, fade, the darker color on damascus etched in Ferric Chloride, and possibly by other methods. I've found it to alter the finish of leather as well, and I'm not sure it is suitable as a solitary finish on wood.
It has aggressive cleaning action and lends itself to certain tasks. With careful application, I think it would be well suited for certain antique applications where there is original finish, or most of it, still in place.
I find typical funiture paste wax (not the new-age citrusy stuff), to provide very good protection, but it takes a little playing with to get the nack of using it (ie: applying a thin, even coat, letting it harden a bit and buffing by hand with a soft, dry cloth).