Topknot, I don't know if there has ever been a gunfight over the best finish for a gunstock, but it wouldn't surprise me. I don't think any three people agree, and two of those three probably don't even use the same finish on any two stocks!
I've got umpteen brothers and sister, an awful lot of in-laws, an undetermined number of nieces and nephews, and I think most of them have asked me your question at least once. The answer I came up with had to be passable, else I'd have to finish their stocks--and with my family it would be a full-time job! Here's what I tell them:
Seal the stock with pure tung oil (I usually recommend "Hope's 100% Tung oil"), NOT a "tung oil finish," "Danish oil," etc. Slop it on, let it soak in, then wipe off the surface every few hours for a day. When it dries, fill the grain with multiple coats of "Tried and True's Varnish Oil" rubbed in thin. Maybe rotten-stone it down to the surface, maybe not--depends on the wood. Maybe put on a few more coats after filling the grain, maybe not--it is up to the person doing the finishing.
Generally speaking, they've been happy with that IF THEY FOLLOW THE DIRECTIONS. The one who wasn't happy wanted a high-gloss finish like on the Weatherby's from the '70s. (I'm not sure where he came from--maybe he's adopted.)
It isn't a perfect finish, or a perfect solution, but it will work. Folks are generally happy with it, it looks the way they think it should look.
But I'll bet a nickel almost everyone who replies will have different suggestions!