I never had any problems with steel wool. Small bits might break off but I simply wipe them off with a lint free cloth.

I also like Boiled linseed oil finishes, they look alot nicer than varnishes. The only problem I see with them, is that they take alot of time and patience to get a good finish and isn't very waterproof. I use final coat of neutral shoe polish to help seal the wood with the linseed oil.

Alcohol, Tobacco, and Firearms... who's bringing the chips?