I use friction polish, wipe on poly, waterlox, and wax, depending on what I'm looking for. For bottle stoppers and very small pieces, friction polish is nice. For quick finish, I soak heavilly with wipe on then burnish it on the lathe with a rag at a relatively high speed till it heats up (hold the heat for 30 sec or so). This gives an "instacure" effect that can have a piece dry enough to handle in under 30 minutes (there's a little lag time between heating it up and fully dry). For deeper, more lustrous finishes, I do several coats of Waterlox with plenty of drying time and a light sand between coats. Wax is a quicky "make it shine" finish and is used more for helping sanding than for final finish.
I haven't used straight oil in several years since it does not leave a nice, deep, clear finish. I'll use mineral oil on salad bowls, etc. but use the Waterlox for sanding and showing scratches.
Dietrich