I would think that waxing stainless steel is a bad idea. The wax would create an oxygen barrier and promote crevice corrosion.
I thought that too, then a friend gave me this:
Collinite Insulator Wax:
•Car, truck, boat, bike, RV, aircraft, personal watercraft, snowmobile, ATV, tractor/farm equipment, golf cart, snowplow.
•Exterior gel coat, fiberglass, clear coat, single stage and lacquer paints and highly finished wood.
•CLEAN, unblemished painted/unpainted metals; chrome, stainless steel, aluminum, copper, and brass
•NOT recommended for rubber, non-skid, black trim, vinyl, glass or non-painted plastic.
Insulator Wax » Collinite
I have used it and it does prolong the passiivating and polish of my stainless. I guess once stainless is passivated, creating a barrier to salt spray (which dries and leaves salt deposits) is a good thing. If one sails only in fresh water, or does not have a salt deposit problem, wax probably not needed.