Clear-coat Vs. Good Wax and Polish

As far as the protective properties, are they fairly the same? The reason I'm asking is because obviously you guys know I put a couple of layers of black-gloss paint over my side steps/nerf bars that are already powder-coated black.  I was going to apply a couple of layers of clear-coat, but I started thinking about it.  Wouldn't a good couple of coats of wax do the same thing, with the exception of having to re-apply every so often? I'm just wondering if I should even bother with the clear-coat.
 
The painted bars came out looking so good that I'm a little paranoid about putting clear-coat on it and it not turning out smooth or having it drip or something like that. 
 
What do you guys think?  If the 2 layers of paint I applied chip, it's still black underneat anyway.

Aw Mikey...it's okay...No buddy, wax will not protect like clear coat paint..it is only a temporary coating..as it is, wax of any kind breathes and lets oxygen penatrate...take your time with several light coats of clear coat and you shouldn't have any probelms..

Clear coat will provide a layer of protection that wax won't--for example, you can get surface scratches from brush, rocks, etc. that the clear coat will prevent from hitting the colored paint. Wax won't stop any scratches. I think my desert pinstriping is a good example of the protective benefits of clear coat.

Well, my next question would be, if I'm to use the regular aerosol can of clear-coat, it is easier to apply in an even coat?
 
I guess it's easier to say, will it dry smoothly if not applied evenly, or will it have that same speckle effect that normal spray paint does when you don't evenly apply it? Right now the bars look great, but I'm working in my garage here, so if I miss a spot or the overspray speckles onto the painted areas, will it dry and smooth itself out or will it dry like that?

Certain brands or makes of it will have a retarding agent in the mix to slow down the set up..so it will flow out evenly before it starts to set...so that's why I say, do it in several light coats...temp and humidity has an influence on this too.

I've been very good at only painting when it's been in the 70's and not humid.  We had really bad storms last night and our town unfortunately was in the center of the all, so it's VERY muggy outside.  I'm hoping by Saturday or Sunday morning the humidity will drop and I'll be able to apply it successfully.  I'm not going to put them back on until after our off-roading trip on the 4th anyway, but the more time it has to set and dry the better.