Hi,
Formby's tung oil finish is pretty good stuff and easy to use. However, it is not an oil finish nor does it contain actual tung oil. It contains tung oil derivitives with other ingrediants to make a varnish, not an oil finish. As such, it does not penetrate as deeply as a true oil finish would but it can be built up on the surface and rubbed back to a nice smooth finish. Tung oil is an excellent finish but needs a drier added or other treatment. Sunderland Welles and Lee Valley sell polymerized tung oil, which is a great finish. It is basically tung oil heated by some process that speeds up the drying process. It produces a very fine and water resistant finish. My preferred method after experimenting with many products, is to combine raw or polymerized tung oil with a polyurethane varnish and turpentine. The first application is a mixture of 25% tung, 25% polyurethane, and 50% turps. This thin mixture penetrates deeply into the wood and seals it pretty well. I apply several coats, letting it dry between coats, until finish starts to pool on the surface. I wipe off the excess and let it dry thoroughly. Then I will hand rub in the tung oil thinned a little with turps until I get the desired finish. If I want a glossier finish built up on the surface, I will use a 2:1 mixture of tung and polyurethane thinned with a little turps. I paint that on the wood until it builds up and then rub it smooth with pumice stone and rottenstone lubricated with linseed oil. That can give you a highly polished look similar to some of the high-end English guns of the mid-19th century.
Several of my guns have been used quite a bit in Southeast Alaska where 160-200 inches of rain can fall annually. My finish holds up very well, but I also routinely use a paste wax on the stocks once a year.
dave