A few things I discovered over the years:

The final polish depends more on the degree of polishing of the wood BEFORE any oil etc is applied. If you take it to grit 400 it will be dull no matter what you use, if you polish to grit 1000 it will shine. The oil used is secondary to the final shine.

True oil may be excellent for wear. BUT, it robs walnut of its natural color, overlaying every piece of walnut with a nut brown hue which is not exactly pretty. Alkanet infused oils bring out a red hue which is just about right.