ORIGINAL: smj617
Use poly urethane if you like the plastic look. Hand rubbed oil finish to bring out the beauty of the wood.
The final coat of poly can be knocked down with 0000 grade steel wool, being extremely careful to avoid putting deep scratches in the finish. Very easily and lightly is the key here. When the finish is uniformly dulled, a good grade of automotive paste wax should be applied and buffed by hand. It will produce a soft, satin sheen with the hard durability of poly.
There are many, many ways to finish stocks. This is just one I'm happy with...



..... Also, the hot, wet towel method of raising the grain suggested earlier is a good method, and well worth using.