I've used plenty (for me) of water based "varnish" - it's nice. It gets the job done.
But "getting the job done" isn't what I want for my current project. So I pulled out a can of Pratt & Lambert #38. Gosh, there's nothing like an oil finish to really "pop" the grain on hard maple. The deep luster, the ripples on the quilted spots - like shimmering waves! Gosh! I need a cigarette . . . . . and I don't smoke!
Why can't a water based do that?