This may be better in the tech section?...but I just refinished a neck back with Winwax wipe-on Poly satin. After sanding the previous finish off I used three coats, sanding with 320 (220 probably would have been better) and then 0000
steel wool...and did a final last sanding after the last coat. It was easy to do and I'm extremely happy with the results...it's not perfect (partly due to the fact that I was trying to work around the serial sticker on the stock), but it feels almost just like a Prestige finish. Tung oil is another good option, but I don't think you'll get the same protective effect as with the poly, at least accroding to Warmoth:
http://www.warmoth.com/common/frames/paint.htm
Either way, all the best with your project!
Greg