That looks sharp

I'd say go for it, I personaly like the colour.
As for the wax, if your putting the vehicle on a show then absolutely yes a waxing is a must but if it's protection your after I'd go with a sealant. Engine bay gets quite hot and unless your going to be waxing it every weekend I can't see the wax lasting under such heat build up...but that's just my guess.
I wonder at what temperature would wax melt and remove from the surface?
Where's TOGWT he will know