I have a rag that is saturated with furniture oil and wax. It is often used on the lathe to put the first coat of oil on a finished piece. A coat of shellac or other finish can be put on after.
On a plane sole, it is usually just wiped once from heal to toe. It makes an incredible difference. It does not cause any problem with finishing the wood later with stain or other finish.
jim
"A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
- Sir Winston Churchill (1874-1965)