I have read this one and a few others as I mess about with oil and spirit varnishes. With repsect to musket and rifle finishes from the flintlock era most of what I can find is that largely they are most often a drying oil (linseed oil, tung oil), a resin that add hardness (pine resin, copal, colophony) and a thinner (traditionally turpentine - I usually use white mineral spirits).
I have 2 sets of "old school" oil varnishes - one set are copal varnishes where I melted copal then boiled to the point of heavy oxidation the mixture of sweidsh BLO (no dryers added) and the copal. One of these I alos added calcium oxide to raise the pH and raise the melting point of the mixture. One of these spent a short period of time on fire as I was unable to contain a small boil over that became a little flame up. Since this was planned for in advance I set a large lid on my gum pot and it went out without needed to grab the fire extiguisher (also handy!) mind you I run these gums in the gravel driveway on my farm away from buildings. The other resin varnish is colophony and BLO. On all of them I used white mineral spirits because good turpentine is EXPENSIVE!
The best one so far is the one I caught on fire!! Its dark brown and dries in 24 hours. It's a little too thick but my wood testers are small so hand rubbing the finish is no problem.
I also have BLO+Rosin pentaeryhtritol ester (aka Permalyn). This one dries pretty slowly and TBH I don't love it. But its a modern more waterproof finish.
In the pipeline I have most of the gums for spirit varnishes that were reportedly used as an "sealing coat", often containing color like alkanet used on kentucky rifles. Again, pretty sparse information available. Shellac, gum mastic, sandarac, etc.). I did this on my Woodrunner (tinted shellac under a commercial BLO) and it love how it turned out.
Anyway, if anyone reads this and would like a sample of the oil varnish to play with I'll send you some free. Would love to get some ciritcal input on it.
drPhil