I have waxed dark oak floors in my house. Bruce makes the products that I use (Bruce Dark n Rich). They hold up well, but without a commercial buffer I find that it is easier to deal with them if I thin the wax with mineral spirits. I can then apply it with a spray bottle and buffing is easier. The trade off is that when I apply it thicker I get a much nicer shine. The shine probably rivals what you can get with poly, but man was it a work out for my cheapo floor buffer, even with a stiff set of brushes on it. I don't know if I would go that aggressive with a grained surface.
Have you thought about using some of the polymeric floor waxes? Wax, of course, is a misnomer, but if I didn't have wax on my floors already I would consider that route. You will probably get twice the shine for a tenth of the effort and the wear on vertical surfaces would be negligible compared to a floor. Bruce makes an acrylic product called One Step. It is important to clean the wax off, much like if you poly, otherwise you could get a dull finish.
Was the Pearson chipping on the inside or the outside? Outside is common, but the inside would be pretty surprising, unless something else was going on.