The best finish for military wood gunstocks is paste wax. Good old Johnson's Paste Wax, in the yellow can. My customers ask me how I get that finish, I just smile and tell them it takes time to learn how to do that. And it's true! For the first 10 years I was a gunsmith, I would rub military stocks with boiled linseed oil. Then I learned.
Scorch, Do you use it on bare wood, or as a re-finish? I have used Johnson's on finished gun stocks for years as a protectant, never though of, or heard of it used as a finish.