The English commonly finished their wood furniture with several coats of specially blended waxes with dyes added. The technique has been shown several times on This Old House and Bob recently had a program with this shown as part of finishing a gold spray painted picture frame.
My feeling is that unless you have a piece that really looks "country" by American standards, that I don't think it would be a good fit on a table that was used regularly. My feeling is that with the lifestyle and available materials that many of us have, not much is going to beat a good oil based polyurethane finish, or a water based one if using some dye finishes.
You might want to check out Bob Flexner's book, Understanding Wood Finsihing as it's only the best on the subject by a mile, in my opinion anyway. Bob also writes a regular column in Popular Woodworking magazine.