I usually finish the wood by fine sanding up to 1000 grit, then whiskering it by dampening it with a wet paper towel and heating it with a torch(any source of heat will work), and then using 0000 steel wool to remove the "whiskers". Usually do that a least a couple of times to make sure they're really gone. Then I finish sanding up to either 1500 or 2000 grit, depending on the wood. I started using Watco Teak Oil about 5 years ago, and find that finish suits me perfectly. It's a Marine oil finish with penetrators and dryers that really gets down into the wood surface and finishes out to a soft lustre. Easy to use/apply. After that is dry, I usually wax with Hard MinWax paste, letting each wax coat dry for a day. Usually, I'll stick it on a slow buffer, with a soft, unloaded wheel, but not always; often hand rubbing is enough. Some woods don't really need to be finished, although you still can. Two that come to mind(there are others) are Bocote and Desert Ironwood; both are naturally oily and can get by just being buffed. Other finishes I've heard used include Danish Oil, Tung Oil, Linspeed/true oil, wood hardener, super glue, acrylic floor finishes.....the list goes on. About the only thing that folks stay away from are regular varnishes, they tend to chip/peel if used a lot.
