Very interesting; Im refinishing an oiled guitar and this looks much better than the tung oil.
On a side note; for final polishing, untreated polishing cloth for musical instrument works really well.
http://www.musiciansfriend.com/produ...oth?sku=420053
If the more durable synthetics are preferable you can try these, an added benefit is they work w/o additional polish.
http://www.musiciansfriend.com/produ...oth?sku=420985