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Hand waxers are one of the greatest inventions ever produced for manual paste-up. The initial cost is relatively low (about $40), supplies are fairly cheap (about $3.50 per box of wax), they're clean (not messy like glue sticks or rubber cement), and they're easy to use (just roll the waxer quickly across the back side of your type or graphic)!
The thin wax coating gives just enough "stickiness" to allow you to place your type or graphics into position without having to worry about it moving or falling off the page. (This is especially helpful when making simple one word/line corrections!) However, if you do have to move your element, you can do so with ease - even many months or several years later!
(Also see "Pointed Tweezers")