I make up a solution from concentrated spray starch, and press with a oak tool, If I want it super slick I double press. That works perfect with better quality linens, but to me not all linens are created equal in that way, some press much easier & nicer then others.
The wax thing I never had any luck with, tried It with a black wrap of mine one time, and I got it pressed slick and all at first, but after a few weeks It started grabbing really badly, so much so that It was wearing the skin off my hand, and turning the wrap white. It was authenticated with My DNA all over the wrap:grin: Also as Craig mentioned It attracts dirt, not a good thing on a light color. I even got away from using carnuba wax on shafts, It polishes and works well, but for me the longevity isn't there and they have to re polished quite often.
The top paragraph is My best method, with the right type/brand linen, It comes out perfect every time, and stays that way if taken care of. It Is as shiny & smooth as most that I've seen, but It does work better with some linens then others.
I don't sand My wrap at all with that method, The linen and how well It goes on has a lot to do with the prep work I do, but sometimes I may have to clean It up a touch with a razor before pressing.