I have been told by several people that Aramith ball cleaner is not wax. However, it sure acts like wax. It hazes over as it dries (like car wax) and then responds to a terrycloth polishing cloth. It probaly doesn't have "wax" in it, just some chemistry that acts like wax !
Aramith cleaner is not quite as thick as toothpaste and it tends to leave a residue on the materials used in the cleaner (felt, terrycloth, etc). Periodically I have to remove the old Aramith cleaner from my polisher with a brush so I have quit with Aramith.
Now I use Pledge spray on furniture polish. Pledge is easier to use and does not gum up my machine. Balls get just as clean if they were reasonably clean to start with from normal table use. A short wait for drying time and they shine up just fine. There seems to be no difference between the way the balls played with Aramith and the Pledge I now use. I suspect that with a high speed cleaner most of the wax is rubbed off in the polishing process and I am left with clean, polished bals with little wax on them.
I suspect, but have not done it because I am lazy, that one could thin out Aramith ball cleaner and place it in a spray bottle. There would be less residue, and it would last longer. No point in wasting the cleaner. Might appeal to the purists.
BTW when I bought my new Gold Crown III many years ago the factory trained installers placed carnuba wax in my authomatic ball return pockets. Everything worked better, I still do it. So I am not sure what the problem is with wax on balls so long as it is kept to a minumum.