Jason,
I took a grafting class (whip & tongue and bark grafting) on last Sunday at Just Fruits & Exotics. So my comments are based on what I learned and what we did (hands on) with persimmon rootstock and scion wood; and some plum scion wood that I grafted today. Nothing else...Like you, I just figured I would give it a shot.
Concerning a local product. I only have experience with grafting wax but I have read others sing the praises of plumber's putty, acrylic latex caulk (HD/Lowes/Ace), parafilm (haven't found a source in TLH), and plain old masking tape.
Although you did not ask, I thought I would share what JFE recommends/advises
1) 4"-6" above the root stock crown,
2) more surface area on the whip, i.e., a longer cut provides a greater chance for success,
3) wrap 1/2"-1" above and below the graft, and after the graft is wrapped,
4) cut the scion wood down to 2-3 buds only. Then ...
Yes. Wax the top of the scion wood and a portion (or all of the tape). Dry out protection. We dipped our whip & tongue grafts into grafting wax and it covers the scion wood and some of the tape.
Again, I am no expert!