Hardwood floors-mildew under carpet
old carpet to uncover an old hardwood floor the chances are it will need to be refinished...good luck
p.s. you will aso need a can of "wipe clean" also from bruce.
I would say short of refinishing the floor you are going to end up with a compromise you will live to regret.
Waxing a wood floor is not a good idea in the long run. Why do you think wall to wall carpet was the rage in the 70's and 80's? Waxing wood floors is a lot of work. (ask your grandmother) My thoughts are if you don't have anything better to do with your time than wax and buff wood floors, you need a hobby.
The urethanes today make wood floor care a snap. Actually easier to maintain than carpet. I would think carefully before not biting the bullet and refinishing the floors and starting over with a clean slate.