I did the glass thing for a long time on my first cue. The guy who first taught me how to play pool showed me how to do that. I agree with the burnishing of the shaft, but not as much as using anything else. Leather does not comress the wood like the glass does. It also makes it more resistant to dings, but doesn't make it ding-proof.
The thing I liked about the glassing was the glossy shine I got and the nice, smooth feel. Once I started in on one side I did the entire taper all the way around the cue. Let me tell you, this is a workout. And, when I was done, I had a stiffer playing shaft. One of the things you should know about my experiences is that you can glass inconsistently around the shaft and it will make an inconsistent feel. It will be noticeable. If I were you, I would either glass the whole thing or not do it at all.
Use the water method or steam method with sand paper if you don't have the patience for the glass method. You will thank me.