Home-brewed shellac polish

I am re-turning to turning after many years of hiatus, so last evening I experimented with a homemade polish for some walnut tool handles. After dissolving a small spoonful of Mixwax paste wax in 1 oz of naphtha, I added a small shot of alcohol, and about 3 - 4 oz of 3lb amber shellac. I applied this to my handles at med speed finishing off with a dry cloth. A quick high gloss finish. I am assuming that what I have is a poor man's substitute for Shellawax? Has anybody else tried this? Just wondering....

-Jerry

I use one i make which will give a quick high shine but is not very durable, i also use this as a seal coat for wipe on poly.
4 parts shellac, 4 parts alcohol, 1part blo,1 part mineral sprits or naphtha. I use it on the lathe at high speed.