The point is your drivetrain parts wouldn't get trashed as quickly on hot wax. Your friction losses would be reduced throughout your riding. So you have 40 years of accelerated part trashing and living with a less efficient drivetrain but that is not a reason to avoid an improvement if it is practical for you. Even with a money no object replace what come approach, the task to source and fit new parts, or trip to the bike shop, eats into time.