Fellow waxer here. I use a "party wax melter", which I'm 99.9999% sure is just a rice cooker with different decals. I can either "warm" or "heat" the wax (in my case gulf wax). And if I get hungry, I guess I can cook up a few cups of waxy rice. Yum.

One point not yet raised with the OP's method: how hot must the chain itself be to insure adhesion? By removing and soaking the chain for 1 hour or more, I feel warm (bazing!) about the ability of the wax to adhere to the metal of the chain. With a SRAM quick-link it is easier for me to dunk the whole chain, so the question is moot for me.

Allow me to wax eloquent on some other issues I've encountered:

1. I prefer wax for derailleured drive trains and oil (Chain-L or chain saw bar) for single speed/fixed drive trains. Single cog and chainring setups were very loud with the wax and near silent with the oil. YMMV.
2. Adding Triflow after wax didn't seem to do anything with respect to wear or noise.

Summary; If you can be bothered to re-wax your chain the day before a ride on your derailleur bike, wax provides a great option. But not for every person or drive train.

Has anyone tried additives to the wax? Alan of (former) Eco Velo blog fame advocated for teflon additives. While I'd like to avoid those in particular, are there other things that seem to help? My paraffin solution also contains some bee's wax, but since I've only used that solution, I can't compare it.