Ouch. Stay away from ISO 1600 on that compact. My Powershot S5 looks even worse at that ISO. For a still life like this, use the lowest ISO your camera has, and whatever aperture gives you the look you want. By using a tripod and self timer to reduce camera shake, you can use as long an exposure as the other settings need.
Not a very interesting object imo. Maybe it would have worked better when lit. I also don't see the soft focus. The shadows and the bottom of the jar are noisy (or is it jpg artifacts?). The color in the shadows and the wax also don't work for me (blue, red in the shadows, yellow in the wax; did you use different kinds of light sources?). It maybe would have turned out better if you had turned it into monotone.