I wouldn't suggest wax, probably would be too slick. Our house has circa 1933 #1 white oak floors. We had them refinished before we moved in, with polyurethane. The floor refinisher said no wax, just Murphy's Oil Soap and a damp mop.
A couple weeks ago I bought a Hoover Floormate. It beats the heck out of a damp mop, and leaves the floor drier. I got the Hoover at Kohls for $100 on sale. WalMart had them for $139.
BTW, floor refinishing is not a DIY project. We removed carpet in a small room in the back of the bouse a few years ago and tried to do it ourselves (with rented equipment). Even though it was summer and we had windows open, we were both sick for a couple days afterwards. Breathing the old finish and sawdust and the new polyurethane is what did it.
Floor refinishing runs about as much as decent quality carpeting, but I'd rather have the wood any day, much easier to keep clean. If you do have the floor refinished, prepare to move out ALL furniture, AND expect to stay in a hotel for a couple nights. Polyurethane is nasty stuff to breathe.