I almost feel guilty throwing in yet another option, but here goes.
I have to agree with John Jordon that turning from Green straight to finish is a really nice way to work, or rough turning and letting things set for 6 months to a year works very well too. Given a small shop with not a lot of space though I understand peoples reluctance to do this.
I lived in HI for 10 years (and am now splitting my time between Seattle and HI). The folks out there who make their living turning Koa used to do the "rough turn and let it dry" technique. At any given time they had about a years worth of roughed pieces sitting on shelves that ran around their shops. It was pretty stunning to go in there and see this massive number of bowls waiting to be done.
Unfortunately, during that drying time they would lose a significant portion of their drying stock to cracking. They were purchasing their Koa trees and paid big bucks for them, especially the curly, so this hurt their margins a lot. Plus, they would invariably have bowls returned from Arizona and other dry states when tourists would take their big dollar bowls home. Another consequence of having such a large stock of drying pieces was damage from earthquakes. Hawaii has them all the time and a good one could do in the better part of a years work as your pieces tumbled to the floor. They tried lots of things to get around this problem. They tried the various techniques with Denatured Alcohol, soap soaking, drying racks, PEG, etc. Nothing worked or was worth the expense and bother. These are production turners after all and they make their money on volume as well as quality. (these are high dollar bowls made from the Koa and sold to tourists in galleries)
A number of years ago they discovered a product called Cedar Treat. Also known as woodturners choice. Can be found at
www.cedarcide.com. It is a cedar oil product with a carrier from Dow chemicals. (better living through chemistry!) It is rated safe for food contact. Runs about $40 to $45 a gallon and a gallon will do a lot of pieces. A lot!
To use you rough your piece.....of if you are turning straight from green to finish you would put it on after you are done turning but before sanding and finishing. A windex style spray bottle is a good applicator, or a brush. Apply it over the bucket and let the extra drip back into the bucket. Small pieces can be dipped.
For Koa they let it set after that for 3 days or so. For other woods they let it sit for upwards of two weeks. At that time the Cedar Treat has converted the water in the cells of the wood to a stable gel. They then apply their finish and the piece is done. They lose almost nothing to cracking now, even for pieces taken back to the mainland to dry climates. They dont need to have a years worth of roughed pieces on hand drying in order to conduct business.
The cedar smell dissipates after the product is done converting the water. It imparts no taste to food served in the bowl. It doesnt affect the finish whether it is an oil or a shell type finish. It doesnt seep out of the wood over time like PEG can. It doesnt change the color of the wood. Pretty good stuff.
The older formulations used to kill boring insects like termites and powder post beetles but I understand the latest formulation does not. I still have lots of the older formula though so I haven't experienced this. Boring insects are a big problem in HI so I am not sure how this will affect everyone.
Although I am not a production turner I use it because I like playing with woods that have a tendency to crack when turned or dried. Macadamia Nut and Ohia are good examples. I also use it because I dont have large amounts of space to support lots of drying roughed out bowls while I continue turning other things. I have been very pleased with it.
The company will send you a sample if you contact them.
Hope this gives you another good alternative for dealing with this issue. In all seriousness though, consider building up a stock of drying roughed bowls or turning straight from green to finish if you can. Or at least keep that in the back of your mind after you have played with other methods for a while.
Happy turning!
Dave