Liberon is heat and water resistant.
I have not done back to back test comparing Waterlox, but Taunton's magazine Fine Woodworking did do an extensive product comparability test August 2005 edition.Also refer to Steven Russell's Oil Slick articles http://www.arbortech.com

Yes it is labour intensive, but you only get out what you put in.Very important to realise that if your wood as little or no figure you are possibly wasting time trying to enhance it with a fine finish.