Deb's advice re:polyurethaning sounds good to me.  The more coats the better,
and waxing the poyurethane (as a sacrificial coating) is probably a good
idea, too.

The parts that worry me is making the floor too slick, either with the poly
or the wax; and having trouble later on due to embedded wax when they want to
refinish.

The other thing to watch for is type of wood; if you sand T&G too many times,
you're eventually going to expose the actual tongues and grooves, at which
time it's Get a New Floor Time.

Now what's your congresswoman going to do for us?

Ralph