Waterborne poly seems to have some advantages which are not generally mentioned. In fact, I think it is sort of strange stuff. I don't particularly care for its water resistance or polishability, but what I have been doing is to put three coats or so on natural wood, sanding between coats, and then top it off with one or two coats of oilbase poly . This gives me something I can rub out, and has extra water resistance and better luster, and I like the results.
The waterbase stuff dries fast, sands easily, and it doesn't seem to make any difference if you even wipe off sanding dust, though I usually do. It seems to redissolve particles of the sanded film. Since I am not worried about using it for a finish coat, even the occasional sag doesn't matter, it just sands away cleanly. AND, I have discovered that it will dissolve (actually sort of wash away if you rub a bit) yellow glue that didn't quite get sanded off. The solvents in waterbase must be fierce. They eat away at plastic wood, for instance, and this must also explain the yellow glue feature.
I think that this material is a truly lazy-friendly product. Have others noticed these things? It could be brand-specific, I have really only used Parks "Pro Finisher".