I recently cleaned several sets of Luger grips. I extensively researched the matter; it's a jungle out there of varied and often conflicting advice. I also have some woodworking background and felt like I was able to discover and vet a reasonable solution.
I purchased a fine artist's brush at an art supply house - finer and softer than the oft-recommended toothbrush. I then gently brushed the grips, generously using Acetone (and wearing a respirator). I inspected the grips before and after using a 40x Leica stereo microscope to verify some good was being done and no damage was being done. It worked, and the grips are a bit lighter and much cleaner.
IMO a toothbrush is too course. Murphy's Oil Soap is an old product with too much water. The acetone cuts most accumulated foreign matter, evaporates very fast, is not absorbed and does no harm to the wood.
I'm not a chemist, but from what I know of wood, putting an oily material intended to soak into the grips (linseed oil, Ballistol or anything similar) is a mistake. I cannot see how any such product helps preserve the wood, I would expect such products would soften, color or both.
I have heard there may be a historical argument that Luger grips were originally treated with Linseed oil. I don't know if that is true or not, but I am skeptical that any +70 year old hardwood benefits by coming into contact with an oil-type material. Personally I would need to see an authoritative source, that discusses the impact on the wood's cell structure, before I would "oil" any old wood.
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