Dave, the Formby's is almost all tung oil, and I haven't found anything I like better for gun wood. Plus you can buy it in the gloss or low gloss version. Wal-Mart always carries it. It's not cheap, but buying it in pint cans makes the bite less painful.
Formby's blends a few other oils with the tung in small quantities, to make it penetrate better. And it does a good job of that. So before you put it on, be sure you have the wood very clean and just the way you want it. You will be sealing it, to some extent. Put enough coats on smooth wood, and you build up a nice, hard, protective shell. But on long gun stocks, I like to put only about one or two light coats on interior surfaces, to let the wood breath. Same on Luger grip panels.
If you keep a can of Formby's so many years without using it that it goes bad or hardens, you are only out a pint; not a quart.
And...this is important...Formby's, same as WATCO, uses a pretty decent type of snap seal for the container. It actually seals. It isn't likely that you will open it next year and find the whole thing has turned into useless rubber-like goo, as happens so often with cans having removeable metal lids, or screw top cans.
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