Ghost, I applied by hand, twice:
First I plugged the shank and bowl and applied melted wax with a q-tip which I then melted off with a blow dryer over waxed paper, and polished it with a cotton rag. I figured this was the best way to get the bulldog lines and the small florets covered well but not leave a lot of residue.
The second coat was after it cooled completely and by hand, rubbing on beeswax as I smoked it. There were a few spots that absorbed more wax so I am glad I took the time to do this second coat/step. Again, when I was done I polished it with a cotton rag, a piece of old bath towel.
I considered doing the "dunk" but I didn't want to melt that much wax and deal with that big of a clean up. The way I went with wasn't a big mess, with the extra wax dripping onto the wax paper, all I had to do was wax it up and toss it out. The next time it's due I'll most likely do the same thing as I'm happy with the results and the effort it took for clean up, set up etc. By the way, I melted a small amount of wax at a time, in a cleaned out, empty tea candle metal dish-thing they come in, using a small butane torch on low, about 6-8 above the wax. No burning of smoking either: my wife smelled the melted wax and thought I was baking! LOL