David,
I'm not sure I'm the best one to answer that question because I just stick with what I know (which is labor intensive). I use a oil/poly blended product called Permalyn (available through Brownell's) for sealing and filling the grain. It comes in a Sealer for initial coats, and a Finish for building up the finish. There is a very similar blended product called Pro Custom Oil that I hear good things about. After I've completely filled the grain with multiple wet-sanded coats, I give it a final wet-sanding (using the Permalyn Sealer as the lubricant) with 320 wet/dry, wiping it clean as I go. I use Galazan's Pre-64 Winchester stain which I think is a pretty good match for Parker color, and I use it ON TOP of the Permalyn. When dry, the final finish is Napier's Oil, which is an English product and it is a proprietary blend of all natural oils. It goes on right over the stain and it goes on very, very thin. In fact, only a few drops will do a coat for the entire stock, then I use nylon stockings (because they are lint-free) to wipe off almost all of it while it is still wet, and then rub it out with my hand to get an even sheen. It takes 3 or 4 of these cycles to end up with a good, consistent-all-over appearance, and it avoids any sanding-through of the stain (a very hard thing to fix).
One day I'll try and master the French Polish technique used by many here. It is far less labor intensive, is true to the original finish, and looks pretty good from the examples I've seen. Austin Hogan has written extensively on that technique. It's on my to-do list one day. I experimented with it some, but had trouble filling the grain and couldn't get a streak-free finish, but I admit I haven't given it enough effort yet to give up on it. I learned everything about the technique I use from a master stockmaker who is a good friend and lives nearby. He has said on many occasions that anytime stockmakers get together at a show, the hot topic is always "what finish technique are you using?" It seems everyone is always looking for a better look and an easier job. In the meantime, here's a couple of mine finished with the technique described:[IMG]
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