I can't comment on the F&W product you are using as I have never applied it. However, a number of months ago there was quite a lot of debate about the old formula-new formula. From memory the new formula wasn't proving to be a popular product. For sometime the old formula dissapppered off the shelves only to re appear again.
The old (i think) was turps clean up which is what you would expect from an oil based product. The new formula was water clean up. If you did through past postings on the FW story you will find quite a bit discussed. The old formula seemed to be the one everyone liked.
I often wonder if the chemists who work in the factories producing thesee things ever go and apply them in real life situations instead of on little scrap decking boards in the factory.
I use a water based formula and spread only with a Shurline 9 inch paint pad applicator. It sells for arond $12. The product that I use is very thin in its viscosity & touch dries in about 20 minutes.
What helps me as far as relaxing & theraputic while doing a coating is my brain thinking about my full beer fridge at home.
jimj
www.restore-a-deck.com.au