For a home table the new expensive 'forever' chalks are probably your best bet for drastically reducing chalk build up. I don't see much advantage to them in pool rooms, which are filthy anyway and you can just open the door to losing an expensive piece of chalk that doesn't improve play quality over cheap master chalk anyway.
But for home use, Toam, or really any of the other long lasting expensive chalks, will be a great choice for keeping the table clean; certainly more than the type of cloth used.