Leather waterproofing - I asked the experts

I walked past the saddlery today, so I stopped in and asked what they had to keep leather waterproof. They have some spray cans of Wanaproo(?)...I think that's what it was. Was only $8 or $9 a can, and is supposed to make even suede water proof...might have to try some, methinks. It needs reapplying every now and then, but I reckon it has to be worth a shot.