Keep in mind that a waffle weave makes less contact with the surface than a terry weave. The reason a waffle works so well for drying isn't that it's more absorbent, in fact, it's no more or less than any other towel made using the same yarns. The way it works is like hundreds of little squeegees pushing the water up into the little valleys where it's held giving the fibers enough time to absorb the liquid. This is why wiping very slowly with a terry towel achieves the same result.
So, waffle weaves are good for drying, glass cleaning, and I would say also for QD as they will spread the QD then take up any excess. I'd say reserve polishing and buffing for terry since it has more surface contact.