I'm curious about this too.
When I got into snowboarding the buddy I rode with had a 6 or 7 year old burton custom that he rode. I asked how often he waxed it or sharpened the edges and he said something along the lines of "I don't do shit". So I haven't either and can honestly say that aside from hitting the occasional "sticky spot" on days with warmer weather I've never really had a problem. Then again I've never waxed my boards either so I don't have a baseline for comparison.
Just wondering if I'm missing out on something by not waxing (board) regularly.