Zenith is one of the few affordable watchmakers still making their own automatic and hand-wind movements, as opposed to buying generic automatic movements. In fact, Rolex has used Zenith movements in their watches before.
This particular watch is a good example of what a dress watch should have.
Leather strap
Uncluttered face
Medium size case
Those who wear sport chronos in dress situations end up looking like dbags. Even if you couldn't care less to spend money on a mechanical watch, you can certainly afford a decent vintage Seiko.
The method used here is sound, but there are variations to make your work easier.
1. inbetween building the undercoats of polish, quickly run a flame over the drying polish. this ensures the polish goes into the grain and evens the coat.
2. instead of using a cloth, use a wadded up cotton ball. it uses less polish and makes your work a little easier.
3. really, dont use too much water.
remember that a real shine is only possibly with a wax, not the cream/soft type of shoe polish. and if your results are lack luster, you need to rub longer.