Henry (Raleigh NC)
My RECOLLECTION from Michael Dresdner's (spelling?) book is this:
Wipe-on poly is a thinned out version of the full strength version. He recommends buying full strength stuff and thinning yourself if you want to use a wipe-on version. Again, as I recall, he recommended a thinned first coat (adding half, to as much as equal, amount of solvent to the full strength polyurethane) and maybe somewhat thinning subsequent coats (adding 5-10% more solvent).

I don't use this product much anymore (or any solvent borne finishes, except shellac) but recall that is what I have done with decent results.

A few other tips on practices you did not ask about - also from M Dresdner's writings:

He also recommended using a piece of 'non-woven abrasive' as an applicator - again something I have used with decent results (I used the white).

Lastly, on sheen. Traditional advice is to only use the satin or semigloss formulation on the final coat - building up layers of the satin or semigloss (with additional particles added to disperse light reflection) can make a finish look 'muddy'.

Henry