Dinitrol is generally regarded as a better product and more effective on older and dare I say rustier metal. It is thinner if I remember rightly and therefore soaks and flows better. I think waxoyl needs thinning for certain applications whereas Dinitrol offer different products for different types of application.
Hi Mike, I used Dinitrol products on my SIV and found them very satisfactory. I used a Shultz gun and warmed the containers a little before applying,the fluid for the internals of the box sections flowed well and the exposed areas were protected with the thicker material. I can't remember the product codes but the web site is vey informative as I recall. I can't comment on the Waxoyl but after a lot of deliberation I chose Dinitrol and am very happy with the results.