I like to finish my wood with pure tung oil. It's real simple, looks good and is reportedly more moisture-resistant than linseed oil. Just make sure it's PURE tung oil and not a tung oil FINISH, which is often linseed oil based. Unless you have some big woodworking specialty shops nearby, you are looking at mail-order to find pure tung oil.
Application is simple. Remove the finish on the stocks and sand till you are satisfied. Thin the first few coats 50/50 tung oil and mineral spirits or pure turpentine. Rub the oil on, let it set for an hour or so, wipe it off and let it dry for a day or so. After the grain appears to be filled with the 50/50 blend, apply the tung oil full-strength the same way- rub it on, let it set an hour or so, wipe the excess off and let it cure overnight. If it is too glossy, hit it with some 0000 steel wool, then put on the next coat. You'll know where to stop when it gets the look you like. I've found that, unless you don't wipe off the excess after an hour or so, it sets up and cures overnight with no problems at all. As long as the oil had cured and is dry, you can proceed to the next step. If it is still wet or tacky, let the previous coat dry COMPLETELY (or wipe off as much of the excess as you can, then let it dry completely) before proceeding with another coat or it may not dry/cure at all.
It takes a while to refinish using tung oil, but I LOVE the results. So far, I have used it on the walnut stock on my 10/22, on an M1 Carbine (commercial Iver Johnson, so I didn't butcher up an original), an Indian .308 SMLE that was cut down to Jungle Carbine specs and several sets of handgun stocks. All look GREAT and seem to be holding up VERY WELL. Here are some pics of the 10/22, the only one that I have pics of right now.
You can go real glossy, matte glossy or pretty dull, depending on how much you steel wool between coats. The 10/22 really isn't that glossy, the sun makes it look more glossy than it really is.
Good luck on your choice. Whatever you decide to go with, there should be someone here that has done it and can help you out if you have questions.
Bub