Woodstock's method is similar to mine, except I use TruOil without the Armorall added. Yes, it takes longer, but the results are the same. Two coats of TruOil, with about 2 days drying for each coat, followed by smoothing with 000 steel wool and a final coat of gunstock wax, does the trick.
TruOil appears to be simply BLO mixed with a little polymer varnish. In other words, it already has a plasticizer added. You could probably mix your own if so inclined, but the Birchwood Casey product is readily available and it doesn't take much for each stock.
The end result is slightly shiny and feels just right in the hands, but is not particularly waterproof. For that, you need straight polyurethane varnish, of the kind used on boats. Marine varnish is too shiny for my tastes on the exterior, but is ideal for sealing the inner surfaces of a stock against moisture. - CW
PS: Next time, I may substitute Tung oil for TruOil, as an experiment. The US Army used Tung Oil on its Springfield rifles in the beginning, but switched to Linseed oil in the 1930s when China, the only source, was invaded by Japan, cutting off exports.
