To be quite honest, I don't see much difference, effort wise, between dipping and dye / waxing. I boil my traps EVERY year, gotta clean em some way, and on a hot day when both the ambient and metal temp is high I dip and hang for a month or so before use (2 or three months may even be better). Before I boil I make major adjusts, as you have been reminding, but before they can go into the ground, triggers need cleared of dip and pans need to be freed and tensioned. To dye and wax all is the same except for the boiling in dye, which you do as you clean (?) and dipping the traps in hot wax. When your wax cools your good to go, now, no wait, but all the other finals need to be done.
A properly prepared trap (a pitting surface rust) that is dipped to a thin coating will retain the vast majority of the coating through cathces and the end of season boilling. If they get "stinky" a quick soak in hot Clorox water takes care of things.
One thing about waxed traps that is a bit of a pain is what one may call "slippy springs; the springs won't stay back in position on #3 and #4 dbl longs. This too is not a big deal just "one of those things.