There are some busy applications (specifically in websites) where it takes a few seconds to find the field. When you use a wait for stage, this time is then doubled. If I say wait for Field X, Field X appears,it takes 3 seconds to find Field X and move to the next stage. Then I say click field X: it searches for it for 3 seconds again, finds it, and clicks it.
It feels that after a wait stage it should cache the location (even if it's just for the next stage). Even better it could see if any other action in the object page is going to that item and wait
I like to think of this similar to a Librarian with a card catalog ;
Customer: Do you have this book?
*Librarian searches catalog and finds item*
Librarian: Yes we do
*Librarian closes card catalog*
Customer: Where is it?
*Librarian searches catalog and finds item*
Librarian: Mystery section under Adams