I use tung oil on the necks of my guitars. It has, in my opinion, the best feel under your thumb when playing. You can feel the wood on your skin and it doesn't stick when wet. Almost everyone who has tried it loved the feeling.
Another advantage is if it gets worn out, anyone can fix it by buying a can of oil, lightly sanding the original coats and applying a few light coats. It amalgamates immediately with what was left of the old coats. If you let it dry properly (a few days to a couple of weeks, depending on how many coats you apply), it will feel good as new.
I used it for entire guitars a few times, but don't do it anymore. Most people didn't like the looks of it. It also has a bit of a damping effect on high frequencies when used on the soundboard.