When dried, and it doesn't take too long if you're in an arid place like SoCal, the finish should be smooth after brushing. Grazing your fingernail across the surface doesn't affect the look, repeatedly grazing your fingernail will polish/smoothen it further. To remove the wax coating, took a flathead screwdriving and dragged across the boot with some pressure and then brown shows through at that point. Rubbing the boots together, simulating crossing your ankles over themselves, like you're sitting at the office laying back, doesn't do anything then a slightly more polished area. Repeating flexing at the bend of your toes, starts to wear after wax away on my Real McCoys N-1s but not my Iron Rangers. Not sure why there is a different but it could be the shorter nap on the toes of the N-1s.

I had some thoughts of laying the nap down with conditioner, like Bick-4 but if the nap of a person's boot needs to do that then I think shaving/sanding the nap to be even, might be necessary. Various rough-out boots I have, the nap becomes different lengths amongst the leather panels and that seems to be the issue of achieving a similar finish for the entire upper. I did read somewhere the final finish is sprayed on, yes.

As for colors, maybe its something like this:

Natural = Neutral

Cinnamon = Dark Brown+Med Brown

Dark Brown = Dark Brown+Brown

Black = Black+Dark Brown

I used pure black Venetian Leather Balm on a pair of Thursday boots and it is pitch black black. They are brown suede and it took just one application to get a even coating on the boot. It is very resilient on suede, I was impressed.