The best stock wax I've used was Gilly Stephenson's, an Australian product with carnauba & beeswax but I've since changed as any wax tends to leave dull spots.
The local "stock doctor" (stock restorer), and my personal gunsmith (who makes exquisite stocks) both use a liquid polish made up thus: it's about equal parts of artist's linseed oil and artist's turpentine. (On no account use petrolium based turps as it will damage wood cells). To this mix add about 10% by volume of tung oil for water proofing. The gunsmith also adds gum arabic which you'll get from artists shops too. It gives paint "stretch". I ran out of it and couldn't pick the difference. The Stock-Doctor uses various expensive thinners to speed drying time.
To apply, spread on, leave for 10 minutes or so and then wipe off. Then, perhaps 1/2 and hour later, give another buff. It'll be quite dry to use but when it's completely dry, (next day perhaps), buff again. I've never needed to do a gun more than twice, (inletting too, of course), to get it to take. Thereafter just buff with one of the silicon gun cloths such as Tipton make. Just avoid cloths that say "polish" as they may be abbrassive to old finishes long term.
The silicon can also be used on metalwork and scopes. If you use oil on scope rings and etc., there's a danger it may run down and get into the scope body and start affecting sealing rings and gaskets.
