Bill Tindall, E.Tn.
Dry enough to handle in 1.5 hours at 85 degrees. Dust-free in not much longer than lacquer on a cold day. I like the color and luster. Dries orders of magnitude faster than P&L 38 with about the same luster and color.
Sand to 220 cherry and 180 walnut. One coat gloss. sand at 400, Top coat of 1 part satin and 3 parts gloss. Sprayed with a 3 parts varnish and 1 part naptha dilution. Result glass smooth.
Waterlox must have a pile of catalyst in the formulation to cure this fast. Cans inerted with nitrogen after use.