They are different. Polish is a stupid term because for other brands they refer to swirl removers, while Meguiar's uses it to refer to glazes!
Swirl removers are for removing swirls, while glazes are an oily solution that act as a lube for a buffing pad and also gives your car a wet look.
Wax is a protective coating that acts as a barrier between your paint and the environment.
And waxing is always done last.

