Boiled linseed oil was around far longer than the last 100 years. It was pretty much a mainstay in traditional american longrifles. (Remember, in this era, flintlocks were pretty much the military state of the art for nearly 300 years.) Building old/replica flintlocks was pretty much my intro into guns, and you can still find some magnificent specimens of originals, with some of the best wood from the original old growth forests.
Back then, labor was cheap, and materials were the significant cost. The equation is reversed today.
The real beauty is the ease of repair. The greatest difficulty, at least for me, is keeping a dust free environment.
Tung oil dries faster, but doesn't seem to fill pores as well, and needs to be lightly buffed with degreased steel wool to take the shine down.
Great stuff, with great results, for the patient.