Reply #1: Several reasons.

[silverweb]

Waxed paper isn't transparent like plastic wrap; it doesn't cling for sealing like plastic wrap; and it's not airtight like plastic wrap.

I've been doing my best to get away from plastic, though, and have started using waxed paper again, mainly for wrapping partially used foods that will be used up on 24 hours or less.

When waxed paper is not the best option, I generally use a food storage container with an airtight lid, like these by Pyrex.