It depends on whether you are looking for aesthetics or durability.
A topcoat will provide greater durability and protection than wax finishes over time.
While wax finishes are lovely, they typically show wear (fingerprints) and are not permanent, requiring semi-annual to annual maintenance.
Wax is a low durability finish. It’s fine for a decorative piece that will receive light traffic. It is absolutely not strong enough for tables, kitchen cabinets, or other surfaces that will see frequent use.
Wax takes a bit of elbow grease to apply.
Furthermore, nothing adheres well to wax, which can impact future finish changes. Even though there is internet chatter about removing wax with 3rd party products or mineral spirits, the risk of a failure in re-coating over a wax finish is very high and sometimes impossible.
Arm-R-Seal is oil based and will amber. Be sure to apply liberally with a foam brush or roller, letting the product self-level a bit. A liberal application will help you avoid streaks caused by back-brushing and pressure. Stir product thoroughly before and during application because flatting agents settle quickly in a solvent base finish.
For experienced professional finishers who spray, we recommend our two-step General Finishes Conversion Varnish, which would cure in half the time and dries clear.
Even though General Finishes products are water resistant, they are not impervious to standing water condensation (like an epoxy finish). As with any fine furniture finish, spills should be wiped up in a timely manner. We recommend using coasters to protect your wood from water condensation and pot holders to protect from heat.
However, neither product will withstand continuous water use or standing water, or hold up to knife cuts. We always use a cutting board just as we would on a standard kitchen counter. Basically, all horizontal wood surfaces in a kitchen must be maintained, and will easily wear with high water use.
Differences:
Butcher Block Oil is a maintenance product that should be reapplied over time. It has a lovely matte finish that soaks into the wood and is an excellent protectant for wood surfaces that come in contact with food. Simply wipe on, allow 5 minutes to penetrate and wipe off the excess. It can also be used on cutting boards, utensils, or bowls. It is one of our most popular finished for butcher-block counters.
Arm-R-Seal is a fine furniture finish, offers several levels of sheen and is General Finishes most durable finish. It has been successfully used on home bar projects with this caveat. No fine furniture finish is impervious to water. Spills must be wiped up in a timely manner.
For a more water resistant finish, we recommend visiting a finish dealer that carries lines specifically designed for high water use such as an Epoxy or a professional two-step catalyzed finish such as General Finishes Conversion Varnish.