Yes, I don't think the shine from s100 is anything special. Personally i think Mothers carnuba gives a deeper, richer and more colorful shine than s100. My point is that the flash shine is as good as s100 with less effort.
As for petro distillates, paint is made up in part of Petro distillates.
As for the cutting ability of malco products I'm sure they have moved with the times and have leveling compounds and non-silca products just like everyone else. I happen to be a 3m man in that department though. Perfect- it compound, Finesse etc.
I'm not saying they are the final word in detaling, just good and aimed more at detailing companies not retail users. I too pick and choose from different companies. Flash just happens to be a product I like when I've got a little extra time to do a quick wax.
I usually let it try to a haze and wipe off. It also works it the hot sun with no problems plus never any streaking even on black or red. Dust is minimal if any. The cleaners are very very light. When I need more cleaning ability i go to Pro's Fast Track spray. Great product as well but doesn't spread quite as fast as Flash.