You are wrong.

First off, the cotton will scratch the finish of your guitar. Over time, lots of swirl marks will build up. Solution: use a micro fiber cloth. I find it's best to use it right after it comes out of the washing machine -- not too wet, not too dry. This will clean the whole guitar and leave it spotless without scratching.

Secondly, avoid polish on the fretboard. That stuff is not good. It will eventually sink into the wood and stop any oil from being able to penetrate. Solution: use your micro fiber cloth for this too.

Furniture polish + guitar = 100% unnecessary. The best things you can buy are the cloth (get it on e-Bay if you can't find it locally) and a bottle of Fret Doctor.

 

Well, I actually considered to buy it, but the dudes at the shop that has them told me that eventually there will be tiny scratches on the guitar, so.. it doesn't really matter then.

They have this kind that uses the lubricants from the palm (sweat and oil) to replenish its own moisture..
I've checked their site again and they have Dr. Duck Ax Wax there as well the microfiber.

Anyway, still no answer on the neck question

 

whenever any of my unfinished necks feel a bit sticky I just break out the 0000 steel wool. A couple of quick passes and it's good as new again.

 

What I did after sanding the finish off was wipe it with a damp (it doesn't have to be very wet at all) cloth to raise the grain, then sand smooth, and do this over and over until the water has no effect. It lasts for months before you have to do it again and is the smoothest a neck can get.

 

You can also finish the back of the neck with a thin coat of Tru Oil to protect it, while still giving you that "unfinished" feel.