I think I can add some useful info and clear up some mis-conceptions. I have been using Polyglow on my 33 Tiara for 10 years now and it is great stuff. Most of the knocks stated above are true, but if you know how, they can all be avoided.
BTW, key point: the only way to get it off is with a "NEW" bottle of polyprep. It comes right off with a rag or scrub pad. The polyprep has about a 1 year shelf life and then it doesn't work anymore. Call the company and he will sell/replace outdated polyprep bottles. I struggled like everyone above reported until I called and got a new bottle of the prep stuff and it worked like magic. He said there is special chemistry that attacks the polyglow, but the chemistry breaks down after about a year and stops working.
Rule #1: You must have a good surface to apply it to. This means it must be clean, free of oxidation, free of any wax, and even in color. The Polyprep and scrub pad they supply is an oxidation remover and weak cleaner only. If you have stains, get a stronger cleaner or compound. If the color is not even, you must compound first.
Rule #2: Put it on with the applicator in thin coats. It takes 4-6 coats to get a good shine. The first couple look streaky, so don't freak out and stop. Keep putting them on. They wipe on like water, so this is not like putting on wax. There is no buffing either. Also, putting it on in direct hot sun causes it to dry before it can flow and even out, so that messes up the deep shine some. Also, if it rains while applying, it can spot. Pick a nice cloudy day and you will get a great shine.
Rules #3: You must clean the surface with regular soap, remove any stains, and put 2 new coats on every year. If you don't it starts to break down and will look poor. Wax just seems to fade off, but this stuff is like a film and when it starts breaking down it doesn't look good. If you give it a couple new coats it flows and evens out any irregularities.
I have used the stuff for 10 years and I highly reccomend it. If you have an older boat, it will look great and stay that way for a long time if you follow the three rules. After 8 years I decided it was time to strip, compound, and re-coat. I had old polyprep and it didn't take it off for beans. Swore a lot and finally got a fresh bottle and volia. It comes right off and now it looks great again.
There are a few knocks with using this stuff. If you leave a stain on the boat for more than a few hours, or maybe days, it will sink into the polyglow. To get if off you have to scrub the surface with something like soft scrub. The scrubbed area will look dull and you have to wash off any grit and re-coat it with polyglow. It blends back in pretty well. After 8 years of this, I was ready to strip the entire hull and start again. It is not perfect, but lasts 4 times longer than wax and is peanuts compared to thousands for a good paint job.
Would I use it on a new boat. I would say not for about 5 years. Wax will last a little longer on a new boat and just fade off. The gel coat and wax will resist most stains, so other than the effort to wax and buff, you don't have to do anything else. Polyglow is a lot easier to put on than wax, especially once you have done the 1st year, but you do have to keep an eye on stains. If you clean very often it will probably never stain. BTW, I have a 1987 boat with oxidized gel coat, so its polyglow or paint. My boat is constanly mistaken for a few years old, even up close, so I'll keep the $10K paint cost in my pocket and live with the polyglow. I llike a shiny boat and I am fussy, most people ask how I keep my boat so shiny, as they don't see me applying the stuff in the yard at the beginning of the season, and I never wax.
http://www.thehulltruth.com/boating-forum/168431-poly-glow-any-ever-use-worth-2.html