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I have used a Gem orbital buffer to wax and buff the wax back off for several years now. I use this on my daily use cars and it seems to do a very good job of putting the wax on.
don't spend the $$$ for a PC7424 just to apply wax - if that's all you need, go with a $30 machine from Kmart. but if you want a PC7424 for the ability to do other things as well, get one, and then, sure, you can use it to apply wax. With a standard carnauba wax product this can really make appication MUCH easier , and will help you spread a nice thin layer of the wax. Just use a soft grey (they look black to me) finishing pad.
Wouldn't bother using a machine for either of these tasks
application of synthetic sealant that does not require effort to apply : Zaino, Rejex, Wolfgang
removal of wax - you'll probably just find that the bonnet clogs up with wax residue too quickly. Use a soft 100% cotton towel for wax removal.