I did a Strat sort of thing in tung oil, maple neck and swamp ash body. "Minwax Tung Oil Finish," I should say, not pure tung oil.
Turned out beautifully. Four applications on the neck, six or so on the body. I raised the grain, let it dry, lightly sanded, repeated two or three times, applied the oil with a lint-free paper towel (Bounty brand), let it dry, applied the next coat, let it dry, etc.
The neck couldn't be smoother.