Neither. You use RENAISSANCE wax polish, distributed by Restorer Supplies, Inc., among others.

It's a little pricey but it's the best wax to use on ALL parts of your gun, if you wish, although I just use it on my wood.

I shy away from the checkering as it's just too doggone tricky to get an even distribution without filling up spots. I don't miss any shine/protection in those areas, however.

Others may chime in with tricks they use on checkering.