In all the years I have made shoes and dibbled in Gun kits the item that seems to attract everybody's attention across the boards is beeswax. It is, by far, the best lubricant a body can put on thread, but the reason this discussion thread is so long is probably because beeswax won't waterproof anything for very long but the stuff is so intriguing.
It will dry out over time, and guys who use it on guns, regardless of how deep it goes into the wood, have to really watch out for the lock and tang areas of their guns, where there is a lot of heat and grime from the powder.
It burns. That's why it is used in candles.
I suspect that part of the protracted discussion we always have on this is because we can't get sperm whale oil or other period products and default to it.
The guys who are having success with a beeswax finish are probably the guys who mixed it with something, such as an oil product, or who have tried it out somewhere other than a stock before engaging it. ( Not for nothing, but there are some very interesting posts right here) Whether or not you finish a stock with it I have learned that every flathead screw hole in your gun ought to have a little beeswax in it.
You're nuts if you don't have a chunk of it somewhere in your kit. Now, then...what can we do to help save the bees?
Don't shoot yore eye out, kid
The Capgun Kid