I have not used OS so I can't speak to that product but I have had nearly ten years of experience with AW. It is a spray sealant but do not consider it a LSP because it is not. It does not contain enough sealant in it to last as long as a pure sealant (such as their 111 or even 105). Ideally, AW should be used as a "topper" to an LSP to boost shine a bit and between details to give a little extra protection. It does not have much cleaning power which takes it out of being a QD but it is applied just as easily as a QD. In fact, I have found it is even better when applied as a drying aid after a wash - not every wash perhaps but every second or third and I'll explain why below.
As good as AW is I just can't consider it a LSP on its own (unless you apply every week or so). Some people have said that they tried applying AW that frequently but someone reported that after a period of time the AW gives off a dark hue to the paint instead of the slick gloss it is known for. Sort of like too much of a good thing can actually be bad. I use it on my diamond white Mercedes and it really sparkles so I agree with you that it works on light colored cars very well. Maybe some will chime in with the OS/AW comparison you are looking for.
AW is a spray sealant but IMO is not designed to be a LSP. From Duragloss "Duragloss Aquawax is designed for a post-wash touch-up, it makes an incredible topper over any of Duragloss’ polishes" Both are good products. as I was typing the above post chimed in.
Sorry I just figured AW was a pure spray sealant. My use of 111 has been limited . So thats DG's ultimate last step ? Can 111 be multi layered ? does it give a Zaino look ?
Never used AW but OS is a true sealant and LSP. To me it makes the paint look "wet" by adding gloss, but does not modify the look of the paint other than that. No fillers, no frills, just glossy protection.
I have and use both products. But as others have stated, AW is more of a booster (IMO) and OOS is a true LSP. I love both products for what they are intended for.