I think I got it, but might be confused too. I think people say things within a context and know what they meant, but the people listening can be in the position to not realize what that context was and misunderstand where the comment fit in the big picture. So let me try to summarize, and Varney, jump in if I get it wrong.
First Concept: If you have never used the Butcher's Bowling Ally Wax before, you want to start fresh and clean. So use Magic Erasure with water (per the directions) or alcohol (for even better results (?). This will work well, but if it's the first cleaning you've done in a while and you have lots of chalk bluing and the old wax/sealer, it's still going to take some time and elbow grease. Besides better cleaning, I think one reason to use alcohol, is that it evaporates quickly so it's less likely to raise the grain of the wood. Speaking of which, one key thing here is to use an ever so slight amount of alcohol (or water), in order to raise as little wood grain as possible - just enough to activate the Magic Erasure. This is why it could AND SHOULD be a slow process. After you're done, if you did raise the grain, you'll probably want to use a very fine grit sand paper to smooth things out again. This would be like a burnishing too almost. But you will remove some wood. So this entire "first concept" is hopefully a one time thing or VERY rare thing in the life of your shaft.
Second Concept: Apply the Butcher's Bowling Ally Wax as has been discussed (wax and cloth). If this is the first application after the initial cleaning, maybe do two applications. If I understood Varney correctly, NOW that this has been done, future applications of Butcher's Bowling Ally Wax will act as a cleaner and remove chalk while in the process of applying new coats - no more Magic Erasure.
Third Concept: Varney said to use Butcher's Bowling Ally Wax fairly regularly (once a week for everyday players?). So over time you build up a lot of wax, which is good, because it probably gets better and better in terms of keeping the shaft smooth in your stroking hand and clean. But the downside is that it might get too hard and end up having the feel of a cue butt with a clear coat finish on it. This is where the 0000 steel wool comes in. Apply it as Varney said to go back to a smooth buttery, rather than a smooth grippy.
Which by the way, I've always wondered why clear coat can be so smooth and yet so grippy at the same time - anybody? All I know is that I prefer "wrapless" cues.
Varney, you really need to jump in now to verify that I understood all this correctly. I was just trying to help the communication process by giving the entire big picture. Whether I described the picture correctly or not is another thing.
Don