Having sanded and redone many many homes with oil base and then tried twice to use water base, I have to say hands down oil base for me is the best. Water base does not flatten like oil and is much harder to spread and apply with lambs wool. Oil goes on smoother and water base seems thicker and many unneeded problems arise because of this. In corners you must be careful that the water base isn't thick or it will stay a darker bluish color for a while. And since the water base doesn't flatten out as well you can find thicker spots that will never harden, it will still be soft to touch many months later and look very ripply and ugly if it's too thick. My Benjamin more paint salesman told me nothing is harder than oil base, and only advantage of water base is fumes, so that is not enough for me to ever use water base again, applying water base is a nightmare after doing so many in oil. Also water base is much more expensive. The oil base seems to darken the wood grain more over time and i really like that. I have never had any issue with dry time using oil. I always appy the next coat after 18-24 hours with perfect results. There are spots on my own floors over 6 months old that are water base which are still not hard, I hope to sand the ugly ripples out if it ever does. for this guy who's done a lot of flooring, oil base is king by far
